The Financial Services Ombudsman must reconsider a couple’s complaint that Danske Bank was not entitled to increase to 4% the variable interest rate on their mortgages at the same time the ECB interest rate was falling to almost zero, following a High Court ruling.

The Financial Services Ombudsman has been told by the High Court to look again at Danske Bank’s decision to hike its variable interest mortgage rates to more than 4% when ECB rates had plunged to almost zero.