HSBC and Coventry raise rates on fixed mortgages in response to crisis in the Middle East

Experts say the Iran war could cause an energy price shock that pushes up UK inflation, in turn forcing up interest rates

HSBC and Coventry building society are the first big lenders to announce they are increasing rates on their fixed mortgage deals after the Middle East crisis, with brokers predicting others are likely to follow.

Experts have said the war could trigger an energy price shock that pushes up UK inflation, which may in turn force the Bank of England to increase interest rates.