TSB and Virgin Money have announced mortgage rate increases, which will be taking effect at the end of this week.
TSB has lifted rates by as much as 0.3%, applying to residential, buy-to-let (BTL), product transfer and additional borrowing mortgage pricing.
Across its residential offering, this will include three-year fixed first-time buyer and homemover rates, three-year fixed remortgages up to 75% loan to value (LTV), and select shared ownership and shared equity product rates.
Its two- and five-year fixed BTL purchase rates will go up by 0.3%, and remortgages up to 75% LTV will increase by the same amount.
TSB will increase two-, three- and five-year fixed residential product transfer rates up to 75% LTV by 0.1%, and five-year fixed BTL product transfer pricing at 60-75% LTV by the same amount.
As for additional borrowing rates, increases of 0.15 will be made to two-, three- and five-year fixed residential deals up to 75% LTV, and five-year fixed BTL options at 60-75% LTV.
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Changes will apply on 15 November.
Virgin Money raises rates
As of 8pm on 14 November, Virgin Money will increase product rates by as much as 0.2%.
Across its purchase offering, core deals at 85% LTV, fixed for two or five years, will start from 4.59%, while at 95%, pricing will begin at 5.24%.
Its green product rates at 85% LTV will go up by 0.2% to start from 4.59%, while shared ownership pricing at the same tier will rise by the same amount and start from 4.42%.
The lender will also increase its Own New rates at 85% LTV by 0.2% to start at 2.06%.
Virgin Money will increase its Retrofit Boost five-year fixed rates at 85% LTV by 0.2% to 4.84%.
This is the second time this week both lenders have announced mortgage rate increases.
Aldermore relaunches limited-edition products for landlords
Aldermore has announced the reintroduction of its limited-edition five-year fixed deals for landlord borrowers.
All options are available at 75% LTV.
For individual and limited company landlords with a single property, the fee-free option will be priced at 5.74%, and with a 1.5% fee, this will be priced at 5.44%. The option with a 5% fee has a rate of 4.74%.
For individual and limited company landlords with multiple properties, the fee-free deal has a rate of 5.74%.
With a 1.5% fee, the rate is 5.44%, the 5% fee option is priced at 4.74%, and the option with a £1,999 fee has a rate of 5.69%.
Jon Cooper, head of mortgages at Aldermore, said: “We’re delighted to reintroduce our five-year limited-edition range today to provide more choice for landlords when it comes to finding products [that] suit their needs.
“At Aldermore, we’re continually reviewing our mortgage range against the current market to ensure we are providing customers with products that help them to go for it in life and in business.”
