It's falling down around arrears
Irish Daily Mirror|May 05, 2023
Finance Minister's warning after interest rates rise
KEITH FALKINER
It's falling down around arrears

IRISH homeowners could fall behind on payments after the European Central Bank raised interest rates again, the Finance Minister warned yesterday.

The ECB said it is pushing up its main lending cost by 0.25 percentage points meaning those with an average €300,000 mortgage will be paying an extra €39 a month.

It is the seventh interest rate rise since last July with Irish mortgage holders now paying up to €300 more a month than they were a year ago.

Minister Michael McGrath said the news was a "concern".

He called on mortgage lenders to use existing codes of conduct to work with borrowers to avoid home repossessions.

Esta historia es de la edición May 05, 2023 de Irish Daily Mirror.

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Esta historia es de la edición May 05, 2023 de Irish Daily Mirror.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.