Rising Rates, Uncertain Times: How UK Mortgages Are Being Impacted
The big news right now? UK mortgage rates are rising, and global uncertainty isn’t making things any easier. Ongoing events in the Middle East (a timely Trump distraction from Epstein headlines, if you ask some people…), combined with higher inflation and concerns that the Bank of England won’t cut rates on Thursday 19 March, have pushed major lenders to increase the cost of fixed-rate mortgages. It’s not dramatic yet, but it’s enough to make the market feel a little unpredictable.
Lenders including HSBC, Nationwide, Coventry Building Society, Barclays, and Virgin Money have made small increases on some fixed-rate deals. Even modest rate changes can have a bigger impact than you might expect, especially if you’re planning to buy, remortgage, or invest in property.
With rates moving around and no signs of coming down soon, it’s worth exploring your options. Some lenders allow you to lock in a rate up to six months in advance, which can provide peace of mind while the market remains unsettled.
Speak to an Expert Mortgage Adviser
If you’re unsure what this means for your situation, a chat with an expert mortgage adviser can make all the difference. They’ll assess your circumstances and guide you on the best options for you.
Here at Inca Financial, we support a wide range of clients, whether residential or commercial, including those:
Buying a first home, moving house, or acquiring a new property
Remortgaging
Investing in residential or commercial property
Self-employed or business owners looking for tailored financing
Looking to port their mortgage (especially if your current rate is lower than what’s available now)
Exploring what’s available today can help you feel prepared for the months ahead, no matter how simple or complex your situation.
Keeping an Eye on the Market
The Spring Budget 2026, announced on 3 March, focused mostly on general economic measures and offered only modest updates for housing. There were small adjustments to stamp duty thresholds and incentives for first-time buyers, but no major new schemes or mortgage support changes.
For anyone following the mortgage market, the Spring Budget is already a bit behind the curve given recent global events affecting inflation and interest rates. Any bigger housing updates are likely to wait until the Autumn Budget, when the government may introduce more significant measures for property buyers and investors.
We’ll continue to monitor the market closely and share updates as they happen. If you have any questions, contact our expert team today.