Good news for mortgage holders: ECB rate hike ‘years off’
There is unlikely to be a rise in European Central Bank interest rates for the coming years, a development that will be a huge boost to thousands of mortgage holders.
Trackers are pegged to the ECB lending rate, and cannot be increased unless the ECB raises its main rate.
It could be three to four years before interest rates rise.
It is estimated that about 350,000 mortgage holders are now on tracker rates, with about 300,000 on variable rates.