AT 4% THE European Central Bank’s main rate for pricing mortgages is now the highest it has been since May 2001 after nine consecutive hikes.

The hikes have been implemented in a bid to tame inflation, with an immediate impact being felt by mortgage holders on variable and tracker rates. 

First-time buyers and homeowners coming to the end of their fixed-rate terms are also facing significant increases in their monthly mortgage payments as a result. 

On top of this, some 60,000 mortgage holders whose mortgages are owned by vulture funds are unable to switch to high-street lenders and are stuck on rates of as high as 10% as a result. 

Are you one of these homeowners? How much have your monthly mortgage payments increased by? 

Have you had to cut out on other monthly spending to continue paying your mortgage? Are you worried you are not going to be able to keep up with your monthly payments? 

Are you perhaps a first-time buyer who has had to reevaluate what sort of property you can afford as a result of these higher rates? 

We’d like to hear your stories to share some in a future article. 

Please include your name, your age and county along with your story. Let us know if you wish to be unnamed or use your first name only in the published article.

To share your story, please send around 150-300 words to answers@thejournal.ie with the subject line ‘Mortgage rates’ or click the below button.