Virgin ups select rates by 0.1 per cent

The changes will come into force from 8pm today.

In its core range, Virgin has increased select 65 per cent LTV by up to 0.09 per cent. This includes its two-year fixed rate with a £995 fee where the rate is now 1.53 per cent.

Its five-year fixed rate at the same LTV and with the same fee has gone up by 0.04 per cent to 1.62 per cent. Its fee-free version has gone up by 0.08 per cent to 1.82 per cent.

Selected 75 per cent LTV products have gone up by as much as 0.1 per cent, such as its two-year fixed rate with a £995 fee which now stands at 1.58 per cent.

The fee-free alternative has gone up by 0.07 per cent to 1.8 per cent, whilst its five-year fixed rate fee-saver at the same LTV has been upped by 0.09 per cent to 1.86 per cent.

Certain Help to Buy products at 75 per cent LTV have also increased by 0.1 per cent and select BTL products have also had their rates upped by 0.06 per cent.

The lender added that the £1,000 cashback incentive on remortgage would be replaced with free standard legals instead.

On the product transfer side, Virgin will increase select 65 per cent LTV products by around 0.09 per cent. This includes its two-year fixed rate with a £995 fee that now stands at 1.53 per cent.

Select 75 per cent LTV fixed rates have increased by up to 0.1 per cent, along with certain Help to Buy products at the same LTV tier. Its two-year fixed rate, also with a £995 fee, at 75 per cent LTV has risen by 0.1 per cent to 1.58 per cent.

Virgin has also upped the rates for select 80 per cent LTV and BTL fixed rates by as much as 0.06 per cent. An example of this is its two-year fixed rate with a £995 fee has been increased by 0.05 per cent to 1.58 per cent.

The lender has increased the rates for certain exclusive products by up to 0.06 per cent.

This includes its two-year fixed rate remortgage at 80 per cent LTV which will rise by 0.05 per cent to 1.58 per cent. It comes with a £1,495 fee.

Its two and five-year fixed rate BTL products at 65 per cent LTV has gone up by 0.05 per cent to 1.6 per cent and 0.06 per cent to 1.73 per cent respectively.