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The conflict in the Middle East is having far-reaching effects beyond the region, impacting UK mortgage rates and consumer confidence. In response to surging oil prices and inflation fears, lenders have pulled hundreds of mortgage products, replacing them with more expensive deals.According to Halifax, average UK house prices fell by 0.5% in March, with demand affected by higher mortgage rates. The Guardian wants to hear from individuals who have lost mortgage deals or been affected by rising interest rates.Share your experience by completing a short form or messaging the Guardian on WhatsApp at +447766780300. Responses can be anonymous, and submissions will be kept secure.The Guardian is seeking stories from people who have:Lost recent mortgage dealsBeen affected by rising interest ratesChanged housing plans due to the current economic climateAll submissions will be reviewed and potentially published, with the option to remain anonymous.

UK house prices experienced a significant increase in March, rising by 0.9% month-on-month, the largest gain since December 2024. This growth, reported by Nationwide, pushed the average UK house price to £277,186. On an annual basis, house price growth accelerated to 2.2% in March, up from 1% in February.Despite this positive trend, Nationwide warned that the outlook has been clouded by the US-Israel war on Iran, leading financial markets to expect the Bank of England to raise the base rate three times over the next 12 months, from the current 3.75%. This has resulted in a sharp rise in longer-term interest rates, which underpin fixed-rate mortgage pricing.As a result, mortgage rates have risen above 5% in recent weeks, with the average two-year fixed-rate mortgage reaching 5.77% and the five-year fixed-rate mortgage increasing to 5.7%. This rapid deterioration in affordability is expected to soften housing market activity.Northern Ireland continues to show the strongest growth in house prices across the UK, with a 9.5% year-on-year increase in the first quarter to £225,269. In contrast, two regions experienced year-on-year declines: the outer south-east of England (-0.7%) and East Anglia (-0.4%).

The ongoing Iran war has led to a surge in petrol and diesel prices, sparking concerns about fuel rationing across Europe and calls for Britain to increase North Sea oil and gas production. However, experts suggest that a more effective solution lies in promoting electric vehicles (EVs). According to analysis by Mandala Partners, if the UK had the same proportion of electric cars as Norway, its fuel reserve could increase by seven days. Currently, the UK has about three weeks' worth of car fuel in reserve. Norway leads the world with nearly 32% of its cars being fully electric, compared to 5.4% in the UK. Even with the existing number of electric and hybrid cars on British roads, they are already saving about two days' worth of fuel. This is particularly significant given that Shell's chief executive, Wael Sawan, has warned that Europe could face fuel shortages as early as April if the Strait of Hormuz remains closed. The potential impact of EVs goes beyond just reducing petrol and diesel consumption. Every electric car charged from the grid rather than the pump extends the country's fuel reserves. Moreover, with the right technology, EVs could become an active buffer against future energy shocks by storing and resharing energy. Vehicle-to-grid technology, which allows EVs to send energy back into the power grid, could make a significant difference in an energy supply crisis. An electric car usually holds about 40 kilowatt-hours of power, enough for an average UK home for several days. This technology could enable millions of car batteries to supply power to the grid when demand spikes. Despite these benefits, the adoption of EVs and vehicle-to-grid technology faces challenges. Tax policy is a significant barrier, as EV owners pay tax on electricity when filling their car battery and again when selling it back to the grid. Additionally, the hardware for two-way charging is not yet widely available, although many electric cars are already capable of it. The energy regulator Ofgem has suggested that if half of the expected 11m EVs on UK roads by 2030 were capable of two-way charging, they could send 16 gigawatts of power back to the grid each day, almost half the output of Britain's gas-power station fleet.

A new and disturbing trend in scams, known as 'friendship fraud,' is on the rise, specifically targeting older people who are lonely or bereaved. This type of scam involves criminals using social media platforms to build relationships with potential victims, often over a long period, before requesting money for various reasons. The scam typically begins with a connection on social media, where the fraudster will research and tailor their initial messages to appear as though they share common interests with the victim. Once a level of trust is established, the scammer will begin to make requests for money, often for small amounts or seemingly urgent needs. According to TSB, the average amount lost by victims of friendship fraud is £3,100. In some cases, victims have lost as much as £4,000 or more over several years. The fraudsters often request payments through bank transfers or gift cards, making it difficult for victims to recover their losses. Experts warn that older people who are lonely or bereaved are particularly vulnerable to these scams, as they may be more desperate for human connection and more likely to trust someone who appears to share their interests. Caroline Abrahams of Age UK describes the fraud as 'especially horrible and insidious,' noting that it can have devastating consequences for victims, including financial loss, health issues, and a breakdown in trust. To avoid falling victim to friendship fraud, experts advise severing contact immediately if someone you met online requests money. If you suspect you or someone you know has been targeted, report it to Report Fraud and discuss it with your bank. Documenting all interactions with the scammer can also help in efforts to recover losses or prosecute the fraudster.