Virgin Money and Clydesdale Bank have made changes to their mortgage variable revert rates.
The changes follow an increase of 0.25% in base rate by the Bank of England on 16 June 2022.
Virgin Money increased its Residential Standard Variable Rate (SVR) from 5.24% to 5.49%.
Its loyalty rate, for qualifying residential customers who have held a mortgage on a property for seven years or more, will increase from 4.99% to 5.24%.
While its buy-to-let variable rate will increase from 5.44% to 5.69%.
The revised rates will take effect for new customers from 7 July 2022 and for existing customers from 1 August 2022.
For Clydesdale and Yorkshire Bank borrowers the Residential SVR will increase from 5.24% to 5.49%.
The Residential Offset Variable Rate will increase from 5.45% to 5.70% and the buy-to-let revert rate, Offset Variable Investment Housing Loan Rate, will increase from 5.85% to 6.10%.
These revised rates will take effect for new customers from 7 July 2022 and for existing customers from their next payment date after 7 July 2022.
