Mortgage News
Virgin Money and Clydesdale Bank up mortgage variable revert rates
Virgin Money, Clydesdale Bank has increased mortgage variable rates following the February base rate increase.
Virgin Money and Clydesdale Bank’s residential standard variable rate (SVR) has gone up from 7.74 per cent to 8.24 per cent.
Virgin Money’s loyalty rate, which is for qualifying residential customers who have had a property for seven years or more, has increased from 7.49 per cent to 7.99 per cent.
The lender’s buy-to-let variable rate has risen from 7.94 per cent to 8.44 per cent.
The revised rates for Virgin Money will take effect for new customers from 2 March and existing customers from 1 April.
Clydesdale Bank’s residential offset variable rate has increased from 7.95 per cent to 8.45 per cent.
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Its buy-to-let revert rate and offset variable investment housing loan rate will rise from 8.24 per cent to 8.74 per cent.
The revised rates for Clydesdale Bank’s new customers come into effect from 2 March and existing customers after their next payment date after 2 March.