Government urged to introduce interest relief on tracker mortgages

“According to the banks’ own estimates, these interest-rate hikes will bolster their interest income by over €1bn each year,” said Sinn Féin finance spokesman Pearse Doherty.

07/09/22 - Sinn Fein TD Pearse Doherty speaks to the media at Leinster House on Wednesday. Photo: Damien Storan.

The Government is facing calls to introduce mortgage interest relief for homeowners on tracker mortgages following the European Central Bank’s (ECB) decision to increase interest rates again.

Sinn Féin finance spokesman Pearse Doherty called on Tanáiste Leo Varadkar to examine introducing “targeted, tailored, and time-bound mortgage interest relief”, particularly for homeowners on tracker mortgages whose payments could increase by more than €2,000 a year.