Virgin Money is increasing fixed mortgage rates across much of its purchase and remortgage range from Thursday 16 July, with rises of up to 0.35%.

The lender has confirmed that a number of fixed-rate products will become more expensive, with increases affecting two-year, five-year and 10-year deals for both purchase and remortgage customers. Shared Ownership products are also included in the latest repricing.

For purchase borrowers, two-year and five-year fixed rates will rise by up to 0.35%, while 10-year fixed rates will increase by 0.20%. Shared Ownership fixed rates will increase by up to 0.30%.

Remortgage customers will also see two-year and five-year fixed rates increase by up to 0.35%, with 10-year fixed rates rising by 0.20%.

The latest changes continue the recent trend of lenders repricing their mortgage ranges as funding costs fluctuate, with a number of providers adjusting rates over recent weeks.

Brokers looking to secure existing pricing for clients must submit applications by 8pm on Wednesday 15 July. Applications received after that deadline will be assessed against the new product rates.

Virgin Money has also confirmed that the end dates for the affected fixed-rate products will move to 1 November of the relevant year.