Virgin Money and Clydesdale Bank have lifted a range of fixed-rate residential and landlord deals by up to 32 basis points from 8pm tonight (6 November) — hours ahead of a widely-expected base rate cut by the Bank of England tomorrow.

Virgin Money’s rises include:

Purchase

• 80% loan to value Fix and Switch fee-savers will be increased by 20bps to 4.90%
• All shared ownership deals now come with a free valuation, plus £200 cashback

Remortgage

• 75% LTV Fix and Switch fee-savers will be increased by 20bps to 4.94%

Buy to let

• Fix and Switch rates, with a £495 fee, will be increased by 20bps starting from 4.94%

Clydesdale Bank rises include:

Core residential — including product transfer

• 65-75% LTV two and five-year fixes will be increased by up to 32bps

BTL

• 65-75% LTV five-year fixes will be increased by 30bps

Purchase exclusives

• 80-85% LTV two- and five-year fixes will be withdrawn

The hikes come as the Bank’s rate-setting Monetary Policy Committee is expected by the City to unveil a 0.25% cut in the cost of borrowing, bringing the base rate down to 4.75% from 5% at noon on Thursday.