Multiple major mortgage lenders are upping rates in a move that experts say could take “momentum out of the housing market”.
Nationwide and Virgin Money are increasing rates by up to 0.35 percentage points from Thursday while Barclays and Coventry Building Society are also upping their prices too.
The move comes after oil prices begun to climb earlier this week after the ceasefire between Iran and the US was breached.
Shorts
For the past month, mortgage rates have been steadily dropping and the war in the Middle East – which began in February – appeared to be de-escalating.
