Virgin Money is set to make adjustments to its residential and buy-to-let mortgage products, effective from 8pm today (Tuesday, 7th May). These changes include rate increases across several mortgage offerings, reflecting shifts in the lending landscape.

The updates will see increases in the Exclusive range, with the Own New fixed rates rising by 0.10%.

Selected residential fixed rates in the Fix and Switch category will see an increase of up to 0.16%, and buy-to-let fixed rates in the same category will go up by up to 0.10%.

Additionally, 90% LTV Purchase fixed rates will experience an increase of up to 0.12%.

For buy-to-let mortgages, selected fixed rates at 60% and 75% loan-to-value (LTV) will increase by up to 0.14%.

The 65% and 75% LTV Remortgage 5-year fixed rates will also rise by 0.15%.

In the Core range, residential purchase 2-year and 5-year fixed rates will increase by up to 0.20%.

Product Transfer fixed rates for 2-year, 3-year, and 5-year terms at 65% and 75% LTV will see a rise of 0.10%.