As the ECB seeks another .75% increase in interest rates BusinessPlus.ie breaks down how the 400,000 people on tracker and variable interest rate mortgages could be impacted.
Details below are based on a 25-year mortgage of €270,000 if the three European central bank rate increases are passed on in full:
| Monthly repayment | |
| June 2022 average mortgage rate of 2.6% | €1,220 |
| July increase of 0.5% to 3.1% | €1,228 |
| September increase of 0.75% to 3.85% | €1,393 |
| Expected increase of 0.75% today to 4.6% | €1,501 |
Total monthly increase of €281 or €3,372 a year
Details below are based on a 30-year mortgage of €350,000 if the three European Central bank rate increases are passed on in full:
| Monthly repayment | |
| June 2022 average mortgage rate of 2.6% | €1,395 |
| July increase of 0.5% to 3.1% | €1,486 |
| September increase of 0.75% to 3.85% | €1,627 |
| Expected increase of 0.75% today to 4.6% | €1,775 |
Total monthly increase of €380 or €4,560 a year
