EBS Building Society has announced that it’s to raise the mortgage interest rate for its Standard Variable Rate customers by 0.25 per cent.

The rise will take effect from 1 August and will see the Standard Variable Rate go up to 4.8 per cent, reports RTE.

The hike will mean an extra €12 a month on average. EBS, which is soon to merge with AIB, increased its interest rates by 0.6 percent in February.

The building society says that high cost of borrowing funds has forced this latest rise.

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Rate hike for EBS mortgage customers

Read more from RTE: EBS variable mortgage customers face rise>

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