Sunday November 29, 2020

Tracker mortgage freeze won’t affect Ireland

Irish banks have assured tracker mortgage holders that they will continue to benefit from any future interest rate cuts, despite moves by some British lenders to freeze tracker rates.

17th January, 2009

Irish banks have assured tracker mortgage holders that they will continue to benefit from any future interest rate cuts, despite moves by some British lenders to freeze tracker rates. British press reports recently said Britain’s biggest building society, Nationwide, would not pass on any further interest rate cuts to customers with tracker mortgages.

According to the reports, the mutual plans to invoke a clause in its mortgage contracts that allows it to freeze...

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