The rate reductions will take place on Friday 22 June 2012 and will affect residential products for purchase and remortgage borrowers, as well as buy-to-let products.
Virgin Money also continues to offer its popular cashback incentive on a number of purchase products. For customers remortgaging from another lender, free standard legal services and a free basic valuation are also available for residential customers.
The buy-to-let range offers a cashback incentive of £500 on completion, in order to help customers cover the costs associated with managing their portfolio.
Fixed rate buy-to-let loans are now available from 3.99% for 2 years, or 4.99% for 5 years.
The new mortgage products are offered by Northern Rock plc and are available through registered mortgage intermediaries, the Northern Rock branch network and online.
