The Bank of England held rates at 3.75% but ditched its single forecast for multiple scenarios as the Iran war rattles oil markets. Here's what it means for UK mortgages, energy bills and jobs.
Barclays has reintroduced a sub-4% mortgage at 3.96%, becoming the first big high street bank to do so since the Iran war spike, but it's reserved for Premier customers only.
UK mortgage rates have surged in March 2026 as Middle East tensions drive up lender costs, with over 200 first-time buyer deals disappearing and average fixes now topping 5.28%.
The Bank of England has held interest rates at 3.75%, but rising global tensions suggest more hikes could be on the horizon before the year ends.
Mortgage rates are climbing as global instability hits the UK market. Here is why you should stop waiting for a bargain and look at your options now.