Daily UK Money Briefing · 2 May 2026 · 7 min

Mortgage Rates Rise Without a BoE Hike: Energy Shock Changes Everything

Mortgage rates jumped today even though the Bank of England held at 3.75% — because lenders are already pricing in hikes after a Middle East energy shock sent UK gas prices soaring 15% in a single day. This episode unpacks what changed, what it means for your remortgage, your energy bill, and your pension.

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Mortgage Rates Rise Without a BoE Hike: Energy Shock Changes Everything

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What's covered

Mortgage rates went up today. The Bank of England didn't move.

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