Virgin Money has increased its residential standard variable rate (SVR), loyalty rate and buy-to-let variable rate following the increase to the base rate.
Virgin Money and Clydesdale Yorkshire Bank’s residential standard SVR will rise from 9.24 per cent to 9.49 per cent.
Virgin Money’s loyalty rate, for qualifying residential customers who have held a mortgage on a property for seven years or more, will go up from 8.99 per cent to 9.24 per cent.
The lender’s buy-to-let variable rate will increase from 9.44 per cent to 9.69 per cent.
The revised rates will come into force for Virgin Money’s existing customers from 1 October, and for new customers from 6 September.
For Clydesdale and Yorkshire Bank, its residential offset variable rate will increase from 9.45 per cent to 9.70 per cent.
The buy-to-let revert rate, offset variable investment housing loan rate, will rise from 9.74 per cent to 9.99 per cent.
The revised rates will take effect for existing customers from their next payment date after 6 September, and for new customers from 6 September.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
