Meanwhile, At Scrooge And Marley Inc.

at

Tracker mortgages have become “golden handcuffs” for 400,000 householders who cannot trade up or down without sacrificing the blue-chip loans that automatically benefit from European Central Bank (ECB) interest rate cuts.

Banks and building societies are refusing to transfer tracker mortgages if the customer wants to move house — even if the new property costs the same or less than the original home on which the tracker mortgage was approved.

Instead they must pay off the tracker and go on to a new variable-rate mortgage.

Homeowners Are Trapped By Their Tracker Mortgages (Independent)

pic
Sponsored Link
Sponsored Link
Broadsheet.ie