11 Mar 2026
Mortgage Rates Increase as Lenders React to Iran War
The UK mortgage market is seeing lenders withdraw deals and hike mortgage rates amid the escalation of conflict in Iran. This isn’t great news for borrowers, with the average rate for a two-year fixed deal sitting above 5%.
We have seen many lenders increase their rates over the last week, with almost 500 mortgage products being pulled from the market, which is the highest since Liz Truss announced the mini-budget back in September 2022.
The US-Israel War with Iran has created a feeling of uncertainty for the housing market. Prior to this, there was a strong prediction that the Bank of England would cut the UK base rate this year, with some experts believing there would be multiple cuts. However, this is unlikely to be the case now.
For those with a fixed mortgage that is about to expire, or a first-time buyer looking to get into the property ladder, it may not be welcome news. However, the team at Mortgage Required are on hand to help. They have access to a wide range of lenders, and will regularly check your rate up until you complete, ensuring you have the best option available to you.
Recent posts
Statistics now show that those looking to purchase a property would have to save a deposit bigger than their annual gross pay.
Analysis from the Office for Budget Responsibility (OBR) shows that those looking to buy their first home could face a sharp increase if house prices follow the latest predictions, as Coventry Building Society suggests.
According to Zoopla, four in 10 homes are now cheaper to buy with a mortgage than to rent due to lower-cost mortgages - a sign that ownership is becoming more affordable.
Best UK Mortgage Rates this Week
7 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
World Sleep Day Tips
12 days ago
There are many people who struggle with getting a good night’s sleep. Having poor sleep hygiene can be the reason for bad sleep quality in adults. Sleep hygiene refers to habits that can help you sleep better.
Here we have shared some tips to create a healthier sleep.
What you need to know about remortgaging
14 days ago
If your current fixed rate is due to come to an end within the next six months, you will want to start thinking about the options available to you.
Nationwide is the first lender to allow mortgage deeds to be signed electronically and without the need for a witness.
‘My First Mortgage’ from major high-street lender Santander is specifically for those wanting to buy their first property. It allows first-time buyers to purchase 98% of the property’s value. However, certain criteria must be met to be eligible.
More information
Trusted by
