Virgin Money is increasing rates on a number of products and launching several buy-to-let product transfer deals.

The new products launch tomorrow while the rate increases will take place at 8pm today.

In an email to brokers, Virgin says that selected product transfer and remortgage products will go up by 10 basis points.

A range of other deals will go up by lesser amounts.

The lender’s new buy-to-let product transfer deals start from 4.61% for a five-year fixed at 60% LTV with a £3,995 fee.

Its new trackers for buy-to-let product transfers are from 5.79% with a £1,995 fee at 60% LTV.

The news comes after HSBC, Barclays, NatWest, Co-op, Accord and Leeds Building Society all announced rate increases yesterday.

Mortgage Advice Bureau head of lending Danny Belton says: “We’ve become familiar with mortgage rates dropping, but rates are now creeping up again, with several lenders repricing this week.

“Swap rates have ticked up slightly on Bank of England interest rate expectations, and this is prompting a shift in the market.

“Prospective buyers and remortgagers shouldn’t panic, though.

“There are still deals to be had, and a handful of lenders holding rates or pricing down.”