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Virgin Money has announced changes to its mortgage variable revert rates, following the announcement of an increase of 0.75% in base rate by the Bank of England on 3 November 2022.

Virgin Money

Clydesdale and Yorkshire Bank

These mortgage rate changes follow the increases Virgin Money has made to a number of its savings rates for both new and existing customers. On 4 November, the rate on Virgin Money’s Easy Access Cash ISA Exclusive was increased to a market-leading 3.00% tax-free/AER variable. This followed increases in the interest rates on linked saver accounts for the M Plus, Club M and M accounts on 3 October to 2.02% AER (2.00% Gross) variable on balances up to £25,000. For balances over £25,000 the rate increased to 1.51% AER (1.50% Gross). These rate increases were applicable to both new and existing customers.