Virgin increases purchase and remortgage rates by up to 0.15%

Virgin Money has become the latest lender to increase mortgage rates this week.

In its purchase range, Virgin has increased two-year fixed rates by up to 0.10%, now starting from 3.85%, with five-year fixes increasing by up to 0.15% to start from 3.96%. Shared ownership rates have also increased by up to 0.15%.

Selected two and five-year remortgage rates have increased by between 10-14bps, now starting from 3.84% and 3.94% respectively.

In Virgin's product transfer range, selected two and five-year fixes have risen by up to 0.05%.

Virgin has also announced the launch of new residential purchase products.

Available from today, the lender has launched new 80% LTV two and five-year fixed rates starting from 3.87%.

As part of the latest changes, it is withdrawing selected exclusive two and five-year purchase products at 75%, 80% and 90% LTV.

Yesterday, Nationwide and Santander announced increases to their mortgage ranges due to rising swap rates.