Clydesdale launches new customer products
Virgin Money has increased the rates of its residential and buy-to-let products.
For its exclusive and core product range, the lender has raised by 11 basis points (bps) the rates of selected five-year residential and buy-to-let fixes. Their rates will now start from 4.70% and 4.71% respectively.
Rates are also increased by 12bps on selected two-year residential and buy-to-let fixes, with rates now starting from 5.21% and 4.87% respectively. All other residential and BTL fixed rates on the lender’s exclusive and core product range get a 12bps increase.
For Virgin Money’s product transfer range, all fixed rates increase by up to 0.12%, starting from 4.58%.
The lender advised brokers who are applying for one of the said products on behalf of their customer to send their applications as soon as possible.
Virgin Money, in a separate email, also announced that Clydesdale Bank had increased all its residential and BTL fixed rates by either 0.20% or 0.30%.
Clydesdale also made a new range of products available for new business customers today after pulling out all its mortgage products from the market last Friday.
The bank was among the mortgage lenders which withdrew products over the past several weeks due to increased swap rates.
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