News
Virgin Money raises fixed rates as Natwest lifts SVR – round-up
Virgin Money has raised select fixed rates by up to 0.3 per cent, while Natwest has upped its standard variable rate (SVR).
Virgin has increased two and three-year fixed rates between 65 and 90 per cent loan to value (LTV) by 0.2 per cent, while equivalent five-year fixes have been raised by 0.3 per cent.
Buy-to-let equivalent mortgages have seen the same price increases.
The lender has also pushed up rates on seven, 10 and 15-year fixes at 75 per cent LTV by 0.2 per cent.
The increases are the fourth round of rate rises from Virgin in as many weeks.
Aldermore Insights with Jon Cooper: Edition 4 – Budget 2025: Landlords feel the heat, brokers to steer the market
Sponsored by Aldermore
Natwest increases SVR
Many lenders have increased rates since the Bank of England raised the base rate to 0.5 per cent earlier this month.
Indeed, Natwest said its SVR is increasing with effect from today in response to the change in the base rate.
The new rate will now be 3.99 per cent for residential mortgages, but there is no change to the buy-to-let SVR which will remain at 4.24 per cent.
Natwest customers on an SVR will have their rate increased with effect from 1 March.