What Mortgage - Lenders hike mortgage rates in response to Middle East conflict
Tags: Press Commentary
The conflict in the Middle East has pushed up the price of oil, creating inflationary pressure which has in turn ramped up costs for mortgage lenders.
Aaron Strutt, product and communications director at Trinity Financial, agreed. He said: “It seems almost certain we are going to see a lot more rate changes over the coming days so if you are on the hunt for a mortgage, it is worth locking into a new deal now.
“There is a huge number of remortgages due this year and most borrowers can switch rates up to four months before their fixed rates expire. Delaying a decision to select a new deal could be costly especially if you have a larger mortgage loan.”
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