BANK of Ireland, TSB and First National have all announced interest rate rises

First National raised its rates by half a percentage point. Borrowers with loans of up to 80 per cent of value will now pay 7.5 per cent while those with loans greater than 80 per cent will pay 7.75 per cent.

Bank of Ireland's increase will bring the rate for loans less than 80 per cent to 7.4 per cent with 7.85 per cent payable on loans greater than 80 per cent.

TSB also raised its rates by 0.4 of a percentage point. Its a new rate is now 7.4 per cent for all variable loans. Its one and two year fixed rate loans have risen by 0.2 of a point to 6.2 per cent and 6.9 per cent respectively.

Irish Permanent and AIB announced rate rises of half a point earlier this week.