Virgin announces further increases to residential and buy-to-let rates

Virgin has announced a second round of rate increases across its residential and buy-to-let mortgage ranges.

The lender has increased mortgage rates by up to 0.16%, following rises of up to 0.10% last week.

In its residential purchase rates, selected two and five-year fixed rates with a £995 fee have risen by up to 0.15%, now starting from 4.14%, while fee-free rates now start from 4.29%.

A 75% LTV £1m+ five-year rate with a £1,995 fee has increased by 0.15% to 4.24%. 

Selected Own New rates are up by 0.15%, now starting from 0.40%. The Own New Rate Reducer mortgage range gives the cashback often given to buyers by new-build developers back into the mortgage, lowering the interest rate.

In Virgin's remortgage range, 65% LTV two-year fixed rates are up by 0.05% to 4.43% and 65% and 65% LTV five-year fixes have risen by up to 0.12%, now starting from 4.12%.

In addition, residential purchase and remortgage Retrofit Boost five-year rates have increased by up to 0.15%, starting from 4.49%. 

For buy-to-let, two year fixed rates have increased by up to 0.10%, starting from 3.57% at 60% LTV and 3.72% at 75% LTV.

Selected 60% and 70% LTV five-year fixed rates have also increased by up to 0.15% and now start from 3.88%, while Retrofit Boost products now start at 4.68%.

For product transfers, 65-75% LTV residential rates have increased by up to 0.15%, starting from 3.94%, while three-year fixes are up by 0.16% to start from 4.12%.

Selected buy-to-let product transfer rates have also risen by up to 0.15% and now start from 4.04%.