In the UK, Bank of Ireland have written to their 13,000 lifetime tracker mortgage customers telling them they are raising their rates from +1% above the Bank of England base rate to 4.5% above the base rate.
They say they have found a fine print clause which allows them to break contract due to changes in the Financial Regulator's rules on held capital rates.
I wonder if they will try the same trick this side of the water.
This was covered on the BBC Radio 4 Money Box program a few minutes ago. It will be on the BBC iPlayer shortly.