Virgin Money has warned brokers that it will be increasing rates on some of its high loan-to-value deals by as much as 29 basis points this evening.

From 8pm tonight the lender will be raising rates on a number of buy-to-let and residential products.

Within its core range, it says that selected 85 per cent LTV deals will jump by up to 0.29 percentage points.

Product transfers at 90 per cent LTV will also increase by up to 0.24 points.

Some 65 per cent LTV deals will rise by 0.05 points.

Selected buy-to-let fixed rates will increase by up to 0.12 points.

The lender says it will be extending end dates to January 1 of the relevant year.

Full details of the replacement products have yet to be revealed.