Related topic: Mortgage rates

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.

The lender has reduced rates across its range by up to 0.21%.

However, industry experts believe mortgage rates may remain stubbornly high.

Rates at 85% LTV and above will see reductions up to 25 bps.

Residential fixed rates now start from 5.54%.

The Society has cut residential and buy-to-let rates by up to 0.25%.

The lender has also increased selected rates by up to 0.19%.

All rates up to and including 80% LTV have been reduced by up to 20bps.