Several big UK lenders raised mortgage rates this week, reversing recent falls. Barclays, Nat West, Nationwide, Coventry Building Society and Virgin Money increased fixed rates up to 0.35 percentage points. Nationwide’s two‑year fix rose from 4.24% to 4.59%, adding £480 a year on a £200k loan.

The jump follows renewed Middle East hostilities, which pushed UK swap rates higher. Two‑year swaps climbed from 3.95% on June 26 to 4.22% on Thursday. Rachel Springall of Moneyfacts said borrowers will be disappointed, showing market sensitivity to geopolitics.

David Hollingworth of L&C Mortgages warned further hikes are likely; borrowers nearing the end of fixes should lock in now. Aaron Strutt of Trinity Financial noted tracker mortgages below 4% remain available and lenders rarely penalise switching later.

Nationwide also lowered the income threshold for 6× salary loans to £75k, while Lloyds launched Premier deals from 4.13% for high earners.