TSB and Virgin Money to raise rates again

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TSB and Virgin Money are set to increase rates again.

At TSB, the changes are to its product transfer rates and the biggest increase will be on its residential and buy-to-let one-year fixed rates, which will go up by 30bps on Thursday.

Two and five-year residential fixes will rise by up to 15bps.

Residential three-year fixed product transfer rates will increase by 5bps at 60% to 75% LTV with no fee, while rates between 75% and 85% LTV will increase by up to 10bps.

Buy-to-let two-year fixes at up to 60% LTV and 75% to 80% LTV will rise by up to 20bps.

Buy-to-let five-year fixes at 60% to 80% LTV are set to increase by up to 15bps.

Additional borrowing rates are also rising.

Virgin Money is putting prices up across its purchase, remortgage and product transfer ranges tomorrow.

Product transfer rates will rise by up to 20bps across two, five and 10-year fixes, while three-year fixed rates will increase by up to 16bps.

For purchase, two-year fixed rates will rise by up to 13bps, while five-year fixes will increase by up to 11bps. Shared Ownership fixed rates will also rise by up to 13bps.

Within its remortgage range, two-year fixed rates will increase by up to 12bps and five-year fixes by up to 16bps.


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