It had to happen – NIB – who offered the lowest tracker rates for LTV’s under 80% – have withdrawn all tracker mortgages for new customers.
It is likely that they are losing money on many of the low rate trackers they issued in tha past 2 years. Many people managed to get rates of ECB plus 0.5% – which is now 4.25%. Most variable rates are above 5.25% now .
Only Halifax Ireland and Bank of Scotland Ireland and Leeds Building Society are offering new tracker mortgages in Ireland.
