shows that the most exposed 20 per cent of mortgage borrowers – the bulk of whom are on trackers – will already be seeing a monthly repayment rise of around €460 a month and this will rise to around €490 after the next increase.
An interesting aspect of the Central Bank research is that this tracker group had been on significantly lower repayments than other borrowers for many years and the ECB increases have only now started to move their monthly repayments above those of the other lending groups. More than 5,500 were on particularly high rates of more than 7 per cent. As most were holding loans previously in arrears, many of these borrowers could be expected to be facing difficulties, paying rates well above the market norm.The third group of exposed borrowers are among those who have not felt any increase so far. They are those on fixed-interest rate loan deals who are due to roll off these arrangements over the next year or two.
Source: Loan Digest (loandigest.net)
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