Middle East Conflict Prompts Brits To Rethink Housing Plans

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Barclays Property Insights reveals that global and economic uncertainty is impacting how UK homeowners are managing their household finances. Almost one in five UK adults (17 per cent) say their housing plans have been affected by the conflict in the Middle East, with many taking action to protect against interest rate and cost‑of‑living pressures.

To safeguard against future rate rises, over a quarter of homeowners (27 per cent) say they are overpaying on their mortgage, and a fifth (20 per cent) of those remortgaging are looking to lock in a new rate as soon as possible in case of future volatility.

Early signs of this behaviour appear in Barclays’ mortgage data from March, which shows that the share of customers borrowing for a remortgage – compared to other reasons for borrowing, such as a first-time purchase or a home move – rose 9 percentage points year-on-year1.

However, it’s important to note that most of the remortgages completed were initiated prior to the escalation of the conflict in Iran, so this increase is more likely driven by the high numbers of people in the UK rolling off five-year fixed rates taken out during the low-interest rate environment in 2021.

Movers adapt to macroeconomic conditions

Existing homeowners cited a number of factors which could delay or prevent their next move. The top barrier was economic uncertainty, with three in 10 (29 per cent) saying this could change their plans. Other factors include stamp duty (27 per cent), moving fees (28 per cent), mortgage rates (24 per cent), and the price gap between their current home and available properties (24 per cent). Nearly half of adults in work (45 per cent) say their wages are not keeping pace with rising costs, so many may find it harder to take the next step up the ladder.

Facing these barriers, Barclays Mortgage data shows that existing homeowners increasingly gravitate towards cheaper properties and larger mortgages. The proportion of home purchases below £500,000 rose to 73.2 per cent year‑on‑year (up from 70.5 per cent in March 2025), while the share of next-time buyers putting down a deposit of less than £20,000 increased to 56.7 per cent from 43.2 per cent over the same period.

Second‑steppers face the largest financial leap on the housing ladder

Two-in five (41 per cent) UK homeowners say they are living in the first property they’ve ever owned, but moving up to the next rung of the property ladder can be challenging.

First-time owners looking to move to their next home – also known as ‘second-steppers’ – estimate needing to save an average of £75,648 to fund the purchase, on top of any proceeds from the sale of their current home. That figure breaks down into £41,751 for a deposit, £28,112 in stamp duty, and £5,785 in third‑party costs such as legal fees.

In contrast, third‑steppers and beyond – i.e. homeowners buying their third or subsequent primary residence – estimate needing to save just £52,651 on average. This includes £19,835 for a deposit, £26,860 for stamp duty, and £5,996 in third‑party costs.

That is £22,998 less than second‑steppers, reflecting the greater equity this group has typically built up in their current home. Over two in five (43 per cent) of those further along the property ladder say they would not need to save anything for a deposit at all.

Jatin Patel, Head of Mortgages, Savings and Insurance at Barclays, said:

“Periods of geopolitical and economic uncertainty inevitably place greater focus on household finances, and we’re seeing homeowners and potential buyers respond in pragmatic ways. Borrowers are demonstrating resilience by overpaying where they can, reassessing their mortgage options, and thinking carefully about timing to maintain flexibility and control."

“For those moving from their first to their second primary residence, the challenge is more structural. Buyers at this stage often face the widest gap between properties, while still needing to fund deposits, stamp duty and moving costs largely from savings rather than equity alone. That makes second‑steppers particularly sensitive to economic pressures, even as they take considered steps to keep their housing plans on track.”

Barclays has solutions for homeowners at every stage of the property ladder, from Mortgage Boost for first-time buyers, or additional borrowing if customers need to fund a large purchase, renovation, or to consolidate debt. Find out more here.

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May 19, 2025
2 min read

Members of the Nottinghamshire Beekeepers’ Association (NBKA) have swarmed to thank global packaging giant The Wilkins Group after the firm donated £1,000 to its cause.

The registered charity, which is part of the British Beekeepers’ Association (BBKA), has around 300 members with hubs in Hucknall, Newark, Nottingham and, appropriately, Beeston.

The group supports millions of honeybees in colonies across the county, helping sustain nature’s natural balance as well as offering beekeeping courses to budding enthusiasts and talks to local schools.

The cash injection from The Wilkins Group forms part of the firm’s ‘year of giving’ campaign, where the Colwick-based company is supporting a different Nottinghamshire charity for every month of 2025.

Janet Bates, secretary of the NBKA, said:

“It was a massive surprise when we got the call from The Wilkins Group. I was buzzing! It’s a really generous donation and will go a very long way towards helping our hard-working bee population and educating more people about the importance of honeybees."

“We have to protect our pollinators, as they are such an important part of nature’s delicate balance. The more people that become interested in bees and beekeeping, the more the word will spread, so this fantastic donation represents more than just money for us.”

Janet, who has been an NBKA member for the past 16 years, helps to maintain and sustain the association’s hub in Hucknall, one of the Nottinghamshire group’s teaching apiaries.

The Hucknall site currently boasts around 20 hives, which in the high season contain between half a million and 800,000 honeybees.

Justin Wilkins, joint managing director of The Wilkins Group, said:

“When we launched our year of giving campaign, we were amazed at the breadth of different charity groups operating on our doorstep. We’re a successful firm, yet our success relies on the people living and working in our local community, so we have been committed to giving something back to some of the worthy causes operating in Nottinghamshire."

“Nottinghamshire Beekeepers’ Association clearly plays a critically important role in supporting our bee population, which some see as pivotal to our own survival as humans."

“We are delighted to make the NBKA May’s recipient of our year-long campaign – and we sincerely hope it helps take the sting out of their fundraising efforts this year.”

Other charities that have been supported by a £1,000 donation so far this year include Papplewick Pumping Station, Green’s Windmill, in Sneinton, Walesby Forest outdoor activity centre and Stonebridge City Farm.

The Wilkins Group, which, in addition to its Nottingham headquarters, has packaging plants in China, Bangladesh and Sri Lanka, is dedicated to improving the environmental impact of industry.

Creating packaging designs and innovations that aim to reduce and ultimately eradicate single-use plastics within the industry, it is already leading the way in alternatives including board trays for food packaging, including the use of compostable materials.

The Wilkins Group is a family run firm that produces food packaging for the likes of Pukka, Pizza Express, Harrods and Cadbury. It also is credited with producing bespoke and award-winning items such as eco-friendly coat hangers and the iconic M&S light-up glitter gin bottles.

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Middle East Conflict Prompts Brits To Rethink Housing Plans

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