Moneyfacts’ analysis shows this jump in the lowest available rate has added around £150 per month to the cost of a £250,000 mortgage for a borrower who secures a deal now, compared to a month ago.

That amounts to an extra £1,810 per year.

Both deals in the comparison were two-year fixed rates.

Data from Moneyfacts previously revealed the average residential two-year fixed is now 101bps higher than it was at the outbreak of war.

The rate has remained unchanged since yesterday at 5.84%, while the average five-year fix has dipped by 1bp to 5.75%.

The average tracker is 4.69%, unchanged from yesterday.

For buy-to-let borrowers, the average two-year fix is now 5.44% and the average five-year fixed is 5.75%.

Moneyfacts personal finance analyst Caitlyn Eastell says: “It has been just over a month since the start of the Middle East conflict.

“The impact on borrowers was almost immediate as costs sharply rose and almost all average rates across different LTV bands have increased by a full percentage point or more.

“Even the lowest rates have taken a hit, in just a few weeks even the lowest rates available have risen from 3.51% to 4.6%,

“Since the beginning of the conflict, almost £1,800 a year has been added onto the average two-year fixed rate – that’s over £3,500 for the full term based on the typical £250,000 loan over 25 years.

“For the average five-year over £1,400 a year has been added, which is over £7,000 for the full five-years.

“However, some of the withdrawals seen in the first few weeks of the conflict are slowly starting to trickle back but lenders may still be cautious as the future around inflation and interest rates is uncertain.”