Changes to Virgin Money and Clydesdale Bank Variable Rates
22 January 2025
Following a review of our pricing we’ve made a decision to reduce our managed variable rates
Virgin Money and Clydesdale Bank Variable Rates
On 23 January 2025, we’ll reduce the following Virgin Money variable rates:
- Our Standard Variable Rate will move from 8.24% to 7.74%.
- Our Buy To Let Variable Rate will move from 8.44% to 8.24%.
On 23 January 2025, we’ll reduce the following Clydesdale Bank variable rates:
- Our Standard Variable Rate will move from 8.24% to 7.74%.
- Our Offset Variable Rate will move from 8.45% to 7.74%.
- Our Buy to Let Variable Rate, Offset Variable Investment Housing Loan Rate will move from 8.74% to 8.24%.
What happens with cases at application or offer stage
Applications for Clydesdale Bank Variable Rate Discounted Offset products will see a reduction to the interest rates from 23 January 2025 in line with the updated Variable Rate. Customers will be contacted to let them know their new rate and monthly payment on completion of the loan.
Applications for fixed or tracker rate products are not affected by this change.
What happens with existing customers
Virgin Money customers affected by these changes will be contacted to let them know their rate and monthly repayment will change on 1 February 2025.
Clydesdale Bank variable rate customers affected by these changes will be contacted to let them know when their new rate will become effective, following their next payment date after 23 January 2025. Their new payment will become effective from the month after that.
If you’ve got any questions, you can get in touch with your Business Development Manager.
The team at Virgin Money
