The US-Israel war on Iran could end up increasing monthly mortgage payments for more than one million more UK households, the Bank of England has predicted, adding that the conflict had dealt “a substantial negative supply shock” to the world economy.
Financial market jitters over the conflict in the Middle East have resulted in banks pulling about 1,500 mortgage products, with many banks raising interest rates on their remaining 7,000 home loan products in recent weeks, the Bank’s financial policy committee (FPC) said.
