End in sight for mortgage holders as interest rate hikes to peak in May

Monthly tracker repayments have surged as officials have increased rates in response to surging inflation

Tracker mortgage repayment costs have risen significantly since the summer. Picture:

Back-to-back interest-rate increases of 50 basis points are approaching from the European Central Bank (ECB), whose battle with persistent inflation will see it hike borrowing costs until May, according to a survey of economists.

The move gives a likely end point for mortgage holders affected by the recent consistent mortgage rate hikes, which started during the summer in response to surging inflation.

Tracker mortgages are those which track the main ECB rate, and are typically ...