Ulster Bank announces rates hike
There is more bad news for some mortgage holders this afternoon, with the announcement by Ulster Bank that it is to increase its variable interest rate by 0.5%.
This will come into effect from March 1 and brings the Ulster Bank variable rate up to 4.35%.
The bank's announcement comes after Permanent TSB earlier confirmed that its variable rate will rise by 1% to 5.19% from March 7.
PTSB has also been criticised for restricting customers by refusing to allow them switch to a fixed rate.
