The lender has also reduced existing mortgage rates by up to 0.09% and increased others by up to 0.10%.

The reductions cover the lenders' SVR and buy-to-let variable rates.

The lender has increased selected higher-LTV mortgage rates.

Own New, Retrofit Boost, shared ownership and remortgage rates are among those affected.

Fix and Switch allows borrowers to switch to another product with no early repayment charge after two years.

The lender has also extended its green reward offer.

The range offers cashback for borrowers to make their home more energy efficient.

Selected 85% and 90% LTV two and five-year fixed rates have increased by up to 0.15%. 

The lenders are reducing their variable rates by more than the Bank of England's recent 0.25% rate cut.

Virgin Money has informed brokers it is increasing rates on a number of mortgage products, effective today (14th November 2024) at 8pm.