Following the announcement by the European Central Bank of a 0.25% interest rate increase, Bank of Ireland confirms that tracker mortgage rates will increase for all tracker mortgage customers by 0.25%.
For most customers, it said this change will take effect from 24 May 2023.
Customers do not need to take any action right now. Bank of Ireland will write to all tracker mortgage customers confirming the new interest rate, the effective date, and their new repayment amount.
The Bank said it continues to keep all rates under ongoing review and will clearly communicate any future rate change decisions at the appropriate time.