Bank of Ireland tracker rates hiked again

Sarah Coles
Bank of Ireland
Bank of Ireland

Bank of Ireland tracker mortgage customers are in for more bad news today, as they see their rate rise to the Bank of England base rate plus 3.99%. This is the second hike in their rate in less than six months, and comes despite the fact that the Bank of England has held rates at 0.5% for well over four years.

So what's going on and what can you do if you're hit by this hike?