On its exclusive and core ranges, two year fixed rate residential mortgage deals will be increased by up to 0.60 per cent, and will start from 5.66 per cent. The five-year fixed rate range will be hiked by up to 0.40 per cent, and so will begin at 5.10 per cent.
On the buy-to-let side, two-year fixed rates will start from 5.22 per cent after being increased by up to 0.35 per cent and five-year fixed rates will start from 5.01 per cent, having been increased by 0.30 per cent. All other fixed rate deals will be increased by as much as 0.50 per cent.
Virgin is also increasing the interest rates on its product transfer range. Two-year fixed rates are going up by up to 0.42 per cent, and so will start from 5.47 per cent. Meanwhile five-year fixed rates will start from 4.96 per cent, after increases of up to 0.38 per cent.
All other fixed rate product transfer deals will be increased by up to 0.37 per cent.
The rate changes will take effect from 8pm tonight. Virgin urged brokers with any questions to get in touch with their business development manager or dedicated regional service team.
