Borrowers at EBS face a further 0.6% hike on mortgage repayments

BORROWERS at EBS building society face another hike of 0.6% on their mortgages before the year end, adding 1.2% to the cost of variable mortgages in 2010.

Earlier this month the group announced a rise in rates of 0.6% from May 1, pushing the standard rate out to 3.23%.

By the year end that rate is now set to rise further to 3.83%. EBS has reported losses after tax of €79 million for 2009. The figures were dragged down following a €195m bad debt charge provision for the year.