Ulster Bank’s mortgage rate rises

ULSTER Bank is hiking its standard variable mortgage rates in a move that will add around €100 onto the monthly repayments of a €300,000 loan.

Experts have described the hike as “substantial” and said many struggling mortgage holders will not be able to afford the increase.

The bank is increasing its standard variable rate by 0.6% to 4.95% from July 1 following a review.