Virgin Money increases variable rates

For Virgin Money customers, the residential standard variable rate (SVR) will increase from 4.99% to 5.24%, taking effect for new customers from 7th June and existing customers from 1st July 2022. The loyalty rate - for qualifying residential customers who have held a mortgage on a property for seven or more years, will increase from 4.74% to 4.99%. 

On buy-to-let mortgages from Virgin Money, the rate will increase from 5.19% to 5.24%.

For customers of Clydesdale and Yorkshire Bank, the residential SVR will also increase from 4.99% to 5.24% from 7th June for new customers and the first payment date after 7th June for existing customers. 

Customers with offset mortgages from Clydesdale and Yorkshire Bank will see their variable rate increase from 5.20% to 5.45%, and the rate for buy-to-let customers - the offset variable investment housing loan rate - will increase frm 5.60% to 5.85%. These will take effect at the same time as those on Clydesdale and Yorkshire Bank's residential rates.