Mortgage repayments could rise by €300 per month

The European Central Bank is preparing to increase interest rates for the first time in more than a decade, and the first hike of 0.25% could come as early as July. Picture: Unsplash

Hundreds of thousands of mortgage holders could face a hike of up to €300 a month in their repayments as interest rates begin to rise from this summer, experts are warning.

The European Central Bank is preparing to increase interest rates for the first time in more than a decade, and the first hike of 0.25% could come as early as July.