ECB expected to raise interest rates from July
Variable and tracker interest rates are likely to increase in July as well as September, according to the European Central Bank (ECB). Those with mortgages linked to these rates could face two increases of 0.25pc, which means an extra €360 a year on a €250,000 tracker mortgage with a margin of 1.25pc over the ECB rate and a 20-year repayment plan. Mortgage holders will have to fork out an additional…