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Virgin Money has announced changes to its mortgage variable revert rates, following the announcement of an increase of 0.50% in base rate by the Bank of England on 4 August 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. The interest rate on its popular linked saver accounts for the Virgin Money M Plus Account, Virgin Money Club M Account and Virgin Money M Account increased on 27 July from 1.56% AER (1.55% Gross) to 1.71% AER (1.70% Gross) variable on balances up to £25,000. For balances over £25,000 the rate increased to 1.00% AER/Gross. Virgin Money also increased the rate on its Easy Access Cash ISA Exclusive to 1.75% Tax-free/AER on 25 August.