Tanaiste Leo Varadkar has said introducing mortgage interest relief to counteract interest rate hikes has not been “ruled out”.
However, the proposal is not currently under consideration, the Dail heard yesterday. The European Central Bank announced it was increasing interest rates by 0.5%. It is the fourth time in a row the rates have increased.
The changes predominantly affect tracker and variable mortgage customers. Sinn Fein’s finance spokesperson Pearse Doherty said those on tracker mortgages or on fixed rates that are due to expire soon will be worst hit by the increases.
