Tracker Rate Mortgage

Tracker Rate Mortgage
A relatively new mortgage concept to the Irish Market, a tracker rate is variable linked to the European Base rate for the whole term of the mortgage. The benefit is that lenders can only change their rate when the European Central Bank announce a rate change. Lenders tend to offer more attractive rates to customers borrowing less than 60% of the value of their home.

Advantages
Variable rate linked, at an agreed margin, to European Central Bank Base Rate
Enjoy all the advantages of a normal variable rate
Lenders pass on full rate decrease within 30 days of ECB announcement

Disadvantages
X Lenders pass on full rate increase within 30 days of ECB announcement

TRACKER RATE MORTGAGE - ONLINE APPLICATION

Warning: The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home

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