Clydesdale Bank has raised its rates on selected products.

The lender says 75% loan to value to 90% LTV two and five-year fixed-rate home loans will be increased by up to 9 basis points, with the changes coming into effect yesterday (31 March).

Its 80% LTV five-year fixed-rate offers with £999 and £1,499 fees will rise by 3 basis points.

The firm’s 90% LTV five-year fixed-rate deals with £999 fees lift by up to 11 basis points.

Professional and newly qualified professional two and five-year fixed rates mortgages rise by up to 9 basis points.

Discounted offset rates will be increased by 25 basis points, in line with the increase to OVR, which stands at 5.20%

The lender – part of the CYBG group, which also includes Virgin Money, Yorkshire Bank and B – told brokers in a note that if they are “applying for one of these products on behalf of your customer, please send us the application as soon as possible”.

The move follows the Bank of England raising its base rate by 25 basis points to 0.75% in March, its third hike in four months.

Earlier this week, Virgin Money also lifted its standard variable rates following the recent Bank of England increase to the base rate last month.

It said its mortgage increase will affect both residential and buy-to-let customers who have products with Virgin Money, Clydesdale and Yorkshire Bank.

For Virgin Money, the residential standard variable rate will increase from 4.74% to 4.99%. The loyalty rate, for qualifying residential customers who have held a mortgage on a property for seven years or more, will increase from 4.49% to 4.74%.

Virgin Money also increased its BTL variable rate from 4.94% to 5.19%.