UK Mortgage Costs Jump £788 Annually in Two Weeks Amid War
What Happened Mortgage lenders across the UK have implemented significant rate increases and product withdrawals in response to heightened market volatility. The £788 annual increase represents the cost difference for a typical new mortgage compared to rates available just 14 days earlier. Major banks and building societies have been quick to adjust their lending criteria, with many pulling their most competitive deals from the market entirely. This leaves borrowers with fewer options and higher costs across remaining products.