{"id":369246,"date":"2026-04-01T11:02:09","date_gmt":"2026-04-01T11:02:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/369246\/"},"modified":"2026-04-01T11:02:09","modified_gmt":"2026-04-01T11:02:09","slug":"warning-iran-war-shock-could-push-up-mortgages-for-1-3m-homeowners","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/369246\/","title":{"rendered":"Warning Iran war &#8216;shock&#8217; could push up mortgages for 1.3m homeowners"},"content":{"rendered":"<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Before the conflict, interest rates set by the Bank of England &#8211; which underpin borrowing rates for homebuyers &#8211; had fallen over the course of last year and had been expected to fall further this year.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">However, the prospect of higher prices, pushed up by rising energy costs, means interest rates could remain on hold at their current 3.75% or even be raised again as the Bank aims to head off higher inflation.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Mortgage rates have already risen over the last month as lenders adjust to the change in expectations.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Some of the cheapest mortgage deals have been withdrawn. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The average rate on a two-year fixed deal on 1 April is 5.84%, according to financial information service Moneyfacts. For a five-year deal, the average is 5.75%.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The Bank of England said the total number of mortgage products available in the UK had fallen from around 8,500 to 7,000, but that was still higher than during previous times of economic pressure, including the 2022 gilt market stress after the Liz Truss Budget and the initial Covid 19 lockdown, it said.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Typical increases in mortgage payments would remain &#8220;modest in comparison to those experienced in recent years, as most mortgagors were already on higher rates&#8221; the Bank said.<\/p>\n","protected":false},"excerpt":{"rendered":"Before the conflict, interest rates set by the Bank of England &#8211; which underpin borrowing rates for homebuyers&hellip;\n","protected":false},"author":2,"featured_media":369247,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46],"class_list":{"0":"post-369246","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-il","10":"tag-israel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/369246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=369246"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/369246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/369247"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=369246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=369246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=369246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}