Extra mortgage rate hike to hit 200,000 homes

Around 200,000 mortgage holders are to be hit with interest rises above those set to be imposed by the European Central Bank this week.

2nd July, 2011
Extra mortgage rate hike to hit 200,000 homes
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Around 200,000 mortgage holders are to be hit with interest rises above those set to be imposed by the European Central Bank this week.

Variable rate mortgage holders will be hit hardest, as banks are likely to hike rates by more than the expected 0.25 per cent ECB rise.

The rise will be a blow for those struggling to make repayments, and reflects the need for banks to recoup higher payouts they are making to savers in...

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