Overview
- Bellway, which cautioned on Tuesday that the Iran war has jolted the UK mortgage market, saw its shares drop about 8% as other housebuilders also fell.
- The company cut its full-year operating-margin goal to about 10.5% and guided operating profit to £320–£330 million, a touch below market views.
- Lenders have pulled roughly a fifth of mortgage products since early March, with about 744 deals withdrawn and some average fixed rates now above 5.5%.
- First-half trading showed 4,702 home completions and operating profit of £159 million, with average selling prices near £322,000.
- Analysts warned energy-driven cost inflation could lift materials, transport and site power bills, which would squeeze builder margins and lead buyers to rethink purchases.