Up to 475,000 homeowners face an extra €100 a month on mortgage repayments 

President of the European Central Bank chief Christine Lagarde has warned of further hikes in interest rates for mortgage holders, continuing into 2023. Picture: Thomas Lohnes/Getty Images

Up to 475,000 homeowners are braced for rate hikes that will add €100 a month to repayments on a €300,000 mortgage. 

Customers on tracker mortgages will be hit almost immediately by the European Central Bank’s (ECB) record 0.75% interest rate hike while the main Irish banks are now "reviewing" their options before deciding if the ECB rate hikes will be passed on to variable rate customers.