HSBC and Coventry raise rates on fixed mortgages in response to crisis in the Middle East
Experts say the Iran war could cause an energy price shock that pushes up UK inflation, in turn forcing up interest ratesHSBC and Coventry building society are the first big lenders to announce they are increasing rates on their fixed mortgage deals after the Middle East crisis, with brokers...
<p>Experts say the Iran war could cause an energy price shock that pushes up UK inflation, in turn forcing up interest rates</p><p>HSBC and Coventry building society are the first big lenders to announce they are increasing rates on their fixed mortgage deals after the <a href="https://www.theguardian.com/world/series/middle-east-crisis">Middle East crisis</a>, with brokers predicting others are likely to follow.</p><p>Experts have said the war <a href="https://www.theguardian.com/business/2026/mar/04/war-in-middle-east-could-wipe-out-growth-in-uk-living-standards">could trigger an energy price shock</a> that pushes up UK inflation, which may in turn force the Bank of England <a href="https://www.theguardian.com/business/2026/mar/04/iran-war-middle-east-affect-finances-energy-bills-inflation-interest-rates">to increase interest rates</a>.</p> <a href="https://www.theguardian.com/money/2026/mar/05/hsbc-coventry-raise-rates-fixed-mortgages-iran-middle-east-crisis">Continue reading...</a>
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