Finance Ireland raises mortgage interest rate by up to 2%

Firm is Ireland's largest non-bank lender

Following the rate increase, a 20-year fixed rate mortgage will be priced from 4.6% to 5%.

Ireland's largest non-bank lender Finance Ireland is to raise its variable and fixed rates for mortgage products by between 1.5% and 2%.

The new rates will come into effect immediately for new business. Mortgages applications which have been approved and which are drawn down before close of business on Friday of this week will continue to avail of existing rates.