| 12.7°C Dublin

Editorial: Government must help homeowners

Many homeowners who are already hard-pressed to make their mortgage repayments will be wondering how they are going to cope with a raft of expected interest rate hikes by the end of the year.

One hike would be bad enough, but the indications are that there could be four this year alone.

It is shocking news for anybody who has already cut their living expenses to the bone.

The European Central Bank has confirmed it could raise rates as early as next month, and the danger is that it will push yet more people over the edge of the financial cliff.

The fact that the ECB has left interest rates at record lows for the past two years is of little consolation.

The new Government must turn its attention to this issue because there are already 80,000 homeowners struggling to meet repayments, and the figure will only rise further.