UK mortgage demand drops to 32-month low as Iran war drives up borrowing costs
OMEGAZEPRIME News
This story was selected and curated by our editorial team in the Business category. Published on September 29, 2026 • Originally reported by Graeme Wearden. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
This story was selected and curated by our editorial team in the Business category. Published on September 29, 2026 • Originally reported by Graeme Wearden. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
Average five-year fixed mortgage interest rate has hit 5.94%, its highest since October 2023, says Moneyfacts
Demand for UK mortgages slumped to a 32-month low in August as buyers were deterred by rising costs linked to the war in Iran.
Just 54,918 mortgages for new home purchases were approved in August, the Bank of England reported on Tuesday, the lowest monthly total since December 2023.
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