EBS to hike mortgage interest rate

EBS is to increase interest rates on its standard variable mortgages by 0.25% from October 1, the company said today.

Dara Deering, Director of EBS Retail Business stated that the new rates "reflect the continued increase in the cost of funds to the business".

The rate will rise from 4.68% to 4.93% (5.1% APR).

EBS said the average size of standard variable rate mortgages on its books was €90,120 and resulting from this increase the average monthly payment will rise by €12.