Bank of Ireland to raise interest rates on fixed-rate mortgages

It follows a series of interest rate hikes by the European Central Bank.

Bank of Ireland is increasing interest rates for a number of mortgage and deposit products. 

Rates will increase by 0.75% for fixed rates on new mortgages. Bank of Ireland will also add 0.5% to the fixed-rate products its existing customers have the option of moving to. The 0.5% increase relates to customers who are coming to the end of their fixed rate period and are seeking to re-fix their mortgage, and tracker rate or variable rate customers who wish to move to a fixed rate.