Indian artist paints congratulatory message for Kamala Harris

• Average UK mortgage rates have climbed back to their highest level in a month.
• Renewed Middle East tensions have pushed up oil prices and lenders' funding costs.
• More than five million homeowners are expected to see higher mortgage repayments by the end of 2028.

A conflict unfolding thousands of miles from Britain is once again being felt much closer to home. UK mortgage rates have climbed back to their highest level in a month after renewed tensions in the Middle East pushed up oil prices, raising concerns that interest rates could stay higher for longer.

Several major lenders, including the UK's five biggest High Street banks, have increased rates on new fixed-rate mortgage deals in recent days. The move reverses weeks of gradual declines that had given borrowers hope that mortgage costs were finally beginning to ease.