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Morning Ireland: Pat Farrell, Chief Executive of the Irish Banking Federation, says all lenders are committed to helping borrowers in trouble
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Morning Ireland: Economist Pat McArdle says the measures will help people in difficulties, but are not addressing long-term debt difficulties
Permanent TSB is increasing mortgage interest rates from today.
The institution is increasing the interest rate on its standard variable rate mortgages by half a percentage point to 3.69%.
The bank had already raised its variable rate by a similar amount in July 2009.
The Government has given a commitment to introduce a scheme to help homeowners who are struggling to meet their mortgage repayments.
Minister for Communications Eamon Ryan said the measures should be in place by the summer.
Up to 350,000 borrowers could be affected if other banks follow Permanent TSB's lead.
Pat Farrell, Chief Executive of the Irish Banking Federation, said it was important that any measures to help lenders covered those who were most at risk financially.
