The Bank has reduced residential mortgage rates by up to 0.50%.

Each product comes with a reduced £595 product fee.

The latest reductions cover Virgin's residential purchase and remortgage ranges.

Rates now start from 3.59%.

Retirement interest-only rates have seen the largest reductions.

The product also offers brokers a £70 referral fee.

Rates now start from 4.04%.

Sidney Wager, head of intermediary market development at Barclays, says that while Q2 showed promising signs of growth and stability across the remortgage market, market volatility...

The lender has reduced mortgage rates by up to 0.55%.

The data shows that new arrears cases are 5.3pp lower than a year earlier.