Good news for homebuyers and those looking to remortgage – Virgin Money has announced a cut of up to 0.45% on its mortgage rates.

These cuts are happening across a range of products, including fixed-rate deals for both homebuyers and those remortgaging.

Here’s what you need to know:

Remortgage deals:

• Biggest cuts on remortgage fixed-rate fee-saver products: These rates have been slashed by up to 0.45%, with rates now starting from 4.59%.
• Fixed-rate deals with a £995 fee also reduced: Enjoy a decrease of up to 0.40% on these, with rates now starting from 4.39%.

Deals for homebuyers:

• Savings on fixed-rate fee-saver products: These have been lowered by up to 0.30%, and you can now snag a rate from 4.54%.
• Green mortgages get even greener: Benefit from a 0.25% reduction on green purchase fixed rates AND enjoy an increased cashback of £500! Rates for these start from 4.39%.

Other changes:

Virgin Money is also making rate reductions across its buy-to-let range, product transfers, and exclusive purchase deals.

However, some products are being withdrawn, including certain fixed-rate deals for homebuyers and those remortgaging.