Mortgage interest costs rise more than 25% in year

HOMEOWNERS have seen the cost of their mortgages rise sharply in the last year with an average 250k mortgage repayment rising by up to €130 a month.

The latest inflation figures show a sharp rise in insurance costs and fuel prices.

The figures from the Central Statistics Office (CSO) show mortgage interest costs have risen by more than 25% in the year to the end of September following a raft of interest rate hikes by the country’s lenders. Homeowners have also had to deal with a 12.5% hike in home insurance costs over the last year as well as a 9% jump in health insurance.