As was widely expected the European Central Bank (ECB) cut interest rates today to an all time low of just 1 per cent, (from 1.25%) . The new rate comes into effect on May 13th – but how many mortgage lenders will pass this latest cut on to variable mortgages?
People on tracker mortgages will see monthly mortgage repayments on a €200,000 tracker mortgage over 25 years fall €22 from €776 to €754.
