ECB Rate Change


On 2 February 2023, the European Central Bank increased its ECB Refinancing Rate by 0.50%. As a result we will make these changes to our rates:

  • Tracker mortgage rates will increase by 0.50% for all Tracker and Buy to Let mortgages that are linked to the ECB rate.
  • This change will happen by 1st March and we will write to all our customers with Tracker mortgages confirming the new interest rate and the date it’s changing.


How does a tracker mortgage work?

A tracker mortgage ‘tracks’ changes to the ECB rate. If the ECB decides to increase or decrease its rate, the rate on the Tracker Mortgage will go up or down by the same percentage.

My tracker mortgage repayment is increasing. Why is this happening?

The ECB has increased its rate by 0.50%. This means the tracker mortgage rate is going up by 0.50%.

How will I be informed of the changes to my Tracker Mortgage interest rate?

We will write to all customers to inform them of the changes to their Tracker Mortgage interest rate from mid- Febraury.

I pay by direct debit. What do I need to do?

The direct debit for your mortgage will automatically change, so you don’t have to do anything.

I pay my mortgage by standing order. What do I need to do?

You will need to amend your standing order to reflect the increased mortgage repayment.

You will need to contact your Bank to make this amendment.

I have a variable or a fixed rate mortgage - are these rates changing?in

Our Standard Variable Rate, LTV Variable Rates and Fixed Rates are not affected by this change. Details of our mortgage rates are available on our website.

You can visit:

Due to the recent coverage around increasing mortgage interest rates, I am concerned about missing future payments on my mortgage

If you are concerned about your current mortgage repayments, or if you are already in arrears on your repayments, you can speak to a Mortgage Master in your local EBS Office or can speak to us by calling 0818  330 044. 

Alternatively, you can visit 

What other rate options are there?

We have wide range of competitive rate options available for customers. Please visit our website for more information.