Virgin Money has increased its residential standard variable rate (SVR) from 5.49% to 5.99% and its loyalty rate - available to qualifying residential customers who have held a mortgage on a property for 7 or more years - from 5.24% to 5.74%.
Its buy-to-let variable rate will increase from 5.69% to 6.19%.
The revised rates will take effect for new customers from 6 September 2022 and for existing customers from 1 October 2022.
For Clydesdale and Yorkshire Bank customers, the residential SVR has also increased from 5.49% to 5.99%, and the offset SVR to 6.20% (up from 5.70%).
The buy to let revert rate (Offset Variable Investment Housing Loan Rate), will increase from 6.10% to 6.60%.
The revised rates will take effect for new customers from 6 September 2022 and for existing customers from their next payment date after 6 September 2022.
