Two further lenders hike mortgage interest rates

THE EBS Building Society has announced it will increase its Standard Variable Rate by 0.60% (60bps) from 3.83% to 4.43% (4.5% APR) from 1 April, 2011.

The company said the increase was needed because of the ongoing increased cost of funds to EBS from retail, corporate and wholesale markets.

Meanwhile, in a further blow to struggling homeowners, Permanent TSB has introduced a large hike in fixed mortgage rates for existing customers coming off fixed rates.