{
  "id": 11394556,
  "title": "Homeowners in UK and beyond hit as global bond selloff drives up mortgage costs",
  "url": "https://urgent.news/2026/10/02/homeowners-in-uk-and-beyond-hit-as-global-bond-selloff-drives-up",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T08:22:29.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/property/2026/10/1546196/homeowners-uk-and-beyond-hit-global-bond-selloff-drives-mortgage-costs"
  },
  "original_language": "en",
  "account": "Richard Merrett, managing director at mortgage firm Alexander Hall, is experiencing a dramatic increase in his mortgage payments. His interest rate was previously locked at 1.14 percent, but it's set to triple from £550 to £1,650 per month by early 2027. This steep rise is attributed to a global bond market selloff, driven by surging energy prices due to the Iran war. Nicholas Mendes, mortgage manager at broker John Charcol, explains that the 30-year government bond yield has hit 6.0 percent for the first time since 1998, leading to a trebling of mortgage rates. This price hike comes as a shock to Merrett, despite his experience in the lending market, and could result in significant belt-tightening for affected homeowners. The rise in Britain's 30-year government bond yield has also raised concerns about its potential impact on the wider economy and other countries, including the US and euro zone.",
  "summary": "LONDON: For five years, the interest rate on Richard Merrett’s mortgage was locked at 1.14 per cent, but with that ultra-cheap deal due to expire in early 2027 he faces a sudden trebling of his monthly housing costs from £550 (US$728) a month to £1,650.",
  "key_points": [
    "UK homeowners face mortgage costs tripling by early 2027",
    "Global bond market selloff driven by Iran war surges energy prices",
    "30-year government bond yield hits 6.0%, trebling mortgage rates"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}