First-time buyers fail stress tests ahead of further ECB rate hikes

Retail banks, which have not yet raised their rates yet, are expected to do so by the end of the year. Picture: Denis Minihane
Some first-time buyers are already failing mortgage stress tests ahead of further European Central Bank (ECB) interest rate hikes, said experts.
These first-time buyers are using non-bank lenders, which have raised their rates since the ECB hikes.