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Central bank remove tracker

  • 19-06-2013 7:11pm
    #1
    eoin95
    Closed Accounts Posts: 103 ✭✭


    Hey,

    Heard today something about the central bank giving lenders permission to withdraw/remove tracker rates on mortgages??? It included not having to negotiate with the borrower and it was due to banks losing so much money. Anyone have any details on this or know anything about it??


Comments

  • #2
    roro2
    Registered Users, Registered Users 2 Posts: 412 ✭✭roro2


    It's a proposal by the Central Bank, but only for mortgage-holders in serious arrears who are being offered some form of debt write-down/restructuring where the overall package, including the loss of the tracker, would be of benefit to the customer.


  • #3
    johnwest288
    Registered Users, Registered Users 2 Posts: 665 ✭✭✭johnwest288


    roro2 wrote: »
    It's a proposal by the Central Bank, but only for mortgage-holders in serious arrears who are being offered some form of debt write-down/restructuring where the overall package, including the loss of the tracker, would be of benefit to the customer.

    By the way i see it nothing the bank can offer would match a tracker mortgage UNLESS they knocked 30 or 40% write down on the overall sum owed. A tracker could be worth up to 100,000 euros over the life of a mortgage


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