Virgin Money is making a series of changes to its residential and buy-to-let products.

At up to 75 per cent LTV, fixed rates will be going up by 0.20 per cent and above 75 per cent LTV, rates will increase by 0.30 per cent.

Meanwhile, BTL rates will increase by 0.20 per cent as will Shared Ownership products.

Product Transfer rates will not be affected.

Virgin Money adds that the rate changes will occur at 8pm today – 27 August.

Earlier this week Virgin relaunched a range of 90 per cent loan-to-value mortgages for first-time buyers, but they will not be available on flats, maisonettes or new-build homes.