Mortgage News
Virgin Money and Clydesdale and Yorkshire Bank up SVR and variable revert rates
Virgin Money has increased its residential Standard Variable Rate (SVR), loyalty rate, buy-to-let variable rate.
The residential SVR for Virgin Money will increase from 5.49 per cent to 5.99 per cent.
The loyalty rate, which is for eligible residential customers who have had a mortgage on a property for seven years or more, which has risen from 5.24 per cent to 5.74 per cent.
The lender’s buy-to-let variable rate will rise from 5.69 per cent to 6.19 per cent.
The new rates will come into force for new customers from 6 September and existing customers from 1 October.
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Clydesdale and Yorkshire Bank changes
Clydesdale and Yorkshire Bank’s residential SVR has also gone from 5.49 per cent to 5.99 per cent.
The residential offset variable rate has gone up from 5.7 per cent to 6.2 per cent.
The lender’s buy-to-let revert rate and offset variable investment housing loan rate will rise from 6.1 per cent to 6.6 per cent.
The rates for new customers will take effect from 6 September and for existing customers the changed rates will come into force from the next payment date after 6 September.