THE majority of mortgage holders in this country would be exposed to a rise in European Central Bank rates.

his is despite a surge in the number of households taking out fixed rates in the past few years to protect themselves against rising interest rates.

Some 60pc of homeowners are still on a combination of variable and tracker rates, the Central Bank said in its Financial Stability Review 2021.

A 1pc rise in the European Central Bank rate would cost them €140 a month.

Another 13pc of mortgage holders are on a short-term fixed rate that is due to finish in the next three years.

The high numbers on floating rates is despite a rush by mortgage holders to sign up to fixed rates in

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