World
Typical new mortgage costs £788 a year more than before Iran war
A typical mortgage taken out now is £788 a year more expensive than before the Iran war began, new data has revealed. The increase relates to homeowners and buyers with a 25-year mortgage of £250,000, and an average two-year fixed rate of 5. The biggest lenders have pulled the best sub-4% mortgage deals, but brokers say borrowers can still navigate the huge uncertainty and should plan well ahead before any current deal expires. 28% now, its highest since last April. For a typical mortgage, that means a five-year fixed deal is now £651 more expensive than a fortnight ago, Moneyfacts said. Barclays, HSBC, NatWest, Nationwide and Santander no longer offer sub-4% fixed deals, which were available last week.