Virgin Money is among a number of mortgage lenders to increase its mortgage rates.
Its buy-to-let 2-year fixed rates have been increased by 0.15%, to now start at 5.37%.
Meanwhile it’s 5-year fixed rates haves been raised by 0.05% to start from 5.06%.
There are similar rate hikes across the lender’s residential range.
Clydesdale Bank, which is owned by Virgin Money, is also increasing buy-to-let and residential fixed rates by 0.40% across its existing cohort of products.
Last week the Bank of England raised the base rate to 5.00%.
Virgin is far from the only lender to raise its interest rates in the current environment, it’s just one of few lenders to transparently announce to journalists when rates go up – most lenders only make an announcement when they go down.
