Rates have reduced across the range by up to 0.35%.

The latest rate cuts target first-time buyers requiring high LTV products.

The lender is cutting rates by up to 0.25 percentage points.

The lender has reduced mortgage rates by up to 0.21%.

The average mortgage payment on a 90% LTV mortgage is now equivalent to the average rental payment.

The average two-year fix at 60% LTV is now 4.18%, while the five-year equivalent is 4.19%.

The lender has also launched a new £1,000 cashback product.

As part of the changes, all new Virgin Money residential and buy-to-let purchase products now include a free basic valuation.

The Society has reduced rates by up to 0.55%.

Rates have reduced on almost all mortgages in the bank's mortgage ranges.