General · 11 March 2026
UK lenders raise mortgage rates after Iran war
Many UK homeowners face higher mortgage costs as lenders react to market changes caused by the US-Israeli war with Iran. Expectations for falling fixed mortgage rates reversed, with some UK lenders now increasing their rates due to rising funding expenses and altered base rate predictions. A two-year fixed mortgage now averages 4.87%, and a five-year deal stands at 4.98% as of March 9.
Reported by BBC · How we write briefs