Virgin Money, TSB, and Principality Intermediaries are the latest lenders to raise home loan rates
Virgin Money, TSB, and Principality Intermediaries have announced mortgage rate increases across a range of products, reflecting ongoing upward trends in borrowing costs.
Virgin Money has raised rates on its purchase and remortgage products by up to 20 basis points (bps). Core 85% loan-to-value (LTV) two- and five-year fixed rates now start at 4.59%, while 95% LTV rates have risen by up to 10bps, starting at 5.24%.
Greener 85% LTV fixed rates, shared ownership products, and Own New options also saw similar increases. Notably, the Retrofit Boost 85% LTV five-year fixed product increased by 0.20%, now at 4.84%.
The lender’s current rates, reflecting the latest changes, can be accessed online through its updated product guide.
Another high street lender, TSB, has implemented increases across its residential, buy-to-let, and product transfer ranges.
Residential three-year fixed rates for first-time buyers and home movers rose by up to 20bps, while buy-to-let two- and five-year fixed purchase and remortgage rates increased by 30bps. Additionally, shared ownership, shared equity, and product transfer options experienced smaller hikes of up to 10bps.
Meanwhile, Principality Intermediaries announced rate increases, effective November 18, on residential, joint borrower sole proprietor (JBSP), Help to Buy Wales, shared ownership, buy-to-let, and holiday let products.
Residential two-, three-, and five-year fixed rates will increase by up to 33bps, depending on LTV. JBSP products will rise by up to 32bps, while five-year fixed 95% LTV shared ownership mortgages will go up by 30bps. Buy-to-let and holiday let rates will see increases of up to 32bps.
These rate adjustments follow similar moves by major lenders, including Barclays, NatWest, Nationwide, Santander, HSBC, Coventry Building Society, and Accord Mortgages.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
