Some homeowners will be facing higher monthly mortgage repayments after today.
That's according to Longford man and financial expert John Finn as interest rates have risen after the European Central Bank's Governing Council met in Frankfurt today.
The European Central Bank is increasing interest rates by 0.75 per cent.
It'll be the second rate hike in as many months, with the ECB trying to dampen spiraling prices across the eurozone where inflation has reached record highs.
It means increases are likely for those paying tracker or variable rate mortgages.
Speaking to the Joe Finnegan Show today Lanesboro native John Finn from Treasury Solutions says a significant amount of our population are financial stresses coming into winter.
I come back to common sense, what can you afford?
Always have a little bit of safety there in terms of a few bob if you can.
We're coming into a winter where an awful lot of people are worried about not being able to heat their houses.
If they have to pay more heating what does it do to their food bill.
It's a very challenging environment for quite a significant cohort in the region.
