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Irish Mirror
Irish Mirror
National
Sophie Collins

Mortgage rate change next week could leave thousands paying €200 more a month

ECB

The European Central Bank has confirmed another rate rise coming next week for mortgage holders, which will leave thousands of people forking out an additional €200 each month.

The move will mainly affect tracker mortgage holders but it will also making the borrowing process even more unattainable for first-time buyers in Ireland.

This will mark the fifth ECB rate rise since July 2022, and will leave a typical tracker mortgage with around €150,000 left to pay forking out €2,400 in additional payments per year, according to Independent.ie.

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