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
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.
Almost half of young adults are worried about their credit history stopping them from renting or buying a property, according to data from Loqbox
How to add value to your property this summer
12 days ago
Different seasons can have a noticeable effect on property prices.
Research from Zoopla shows that spending out on certain features can fetch up to £29,000 during the summer months.
Monday 22nd June saw Keir Starmer resign as Prime Minister and Labour leader. The resignation does not directly impact mortgage rates, as changes were taking place before this announcement. However, it could influence mortgage rates indirectly through financial markets and future government policies.
Homebuying reform to cut homebuying times by around four weeks, and save first-time buyers around £650, says the government.
Buying your first home is a huge milestone, but it can also be a complex process. There are several factors a first-time buyer should consider before making an offer on a property, including understanding the difference between leasehold and freehold and checking council tax bands.
We’ve detailed some questions you can ask your estate agent to help you make an informed decision.
Signs it's time to remortgage
21 days ago
Remortgaging means switching to a new mortgage deal. This will either be with your current lender or a new one.
Getting advice and moving to a new deal when the time is right can mean lower monthly mortgage payments, better interest rates, or releasing equity from your property.
Here are some signs it may be time to remortgage.
According to Nationwide Building Society’s latest House Price Index, house prices dropped 0.6% month on month in May – the first monthly decline this year.
More information
Trusted by
