One million more UK homeowners set to face higher mortgages
The Bank of England reports that one million more UK homeowners than previously expected will face higher mortgage repayments by 2028 due to the economic impact of the Iran conflict. While the average increase for those rolling off fixed rates is projected to be £45 per month, some borrowers could see jumps of £170.
Why it matters
This highlights the ongoing vulnerability of the UK housing market to geopolitical instability and shifting interest rate environments.
Image source, Getty Images By Kevin Peachey Cost of living correspondent Published 7 July 2026, 11:30 BST Updated 3 minutes ago The impact of the Iran war means a million more homeowners face higher mortgage bills than the Bank of England had previously expected.
The article reports on official Bank of England data without injecting editorial opinion or partisan framing.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in