The ECB raised its deposit rate to 2.50% on 10 September, its second rise this year. If you’re on a tracker or variable mortgage, here’s what changes and when to act.
The European Central Bank raised its deposit rate to 2.50% on 10 September 2026. It’s the second rise this year, after June’s increase, and it follows through on what I flagged back then: this wasn’t a one-off.
If you’re on a tracker mortgage, the change lands on your account automatically, usually within one or two repayment cycles. Check your next statement rather than waiting for a letter.
If you’re on a variable rate, your lender decides whether and when to pass the rise on. Not every lender moves at the same pace, so it’s worth ringing yours and asking directly rather than assuming.
If you’re coming to the end of a fixed rate, this is the month to start comparing what’s on offer rather than letting the fix lapse onto your lender’s standard variable rate. Renewing early costs nothing and gives you more choice.
None of this is advice on what to do with your own mortgage. It’s a flag that the market has moved twice this year, and a reason to have that conversation now rather than in January.
