Virgin Money and Clydesdale Bank have made reductions to their variable mortgage rates following the Bank Base Rate decision, effective from 20th February.
For Virgin Money customers, the standard variable rate (SVR) will decrease from 7.74% to 7.49%.
The buy-to-let (BTL) variable rate will also be reduced, moving from 8.24% to 7.99%.
Clydesdale Bank will implement similar changes to its variable rates.
The SVR will drop from 7.74% to 7.49%, and the Offset Variable Rate will also decrease to 7.49%.
Additionally, the buy-to-let Variable Rate and the Offset Variable Investment Housing Loan Rate will be reduced from 8.24% to 7.99%.
In addition to these reductions, Virgin Money’s tracker rates will be updated from the 7th February 2025 to reflect the recent change in the Bank of England Base Rate.
However, the tracker differential will remain unchanged.
