Changes affect several fixed rate residential and BTL products
Virgin Money has announced that it has increased rates of its residential and buy-to-let mortgage products.
For the lender’s exclusive and core products, two-year fixed rates have been increased by 0.15%, with rates now starting from 5.81%.
Three- and five-year fixes have been hiked by 0.10% and 0.05%, with rates now starting from 5.66% and 5.15% respectively.
Virgin Money’s buy-to-let two- and five-year fixes have increased by 0.15% and 0.05%, with rates from 5.37% and 5.06% respectively.
For product transfer, two-year fixed rates have been raised by 0.15%, now starting from 5.62%.
Three- and five-year fixed rates have increased by 0.10% and 0.05%, now from 5.52% and 5.01% respectively.
The lender has raised the rates of its mortgage products several times already over the past month as uncertainty in the mortgage market continued, with high inflation figures, as well as consecutive base rate increases by the Bank of England.
Virgin Money’s current product rates can be accessed online through its mortgage update.
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