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Tracker Mortgage /Balance reduction

  • 04-11-2011 10:39am
    #1
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭


    A number of months ago much was said about banks possibly offering customers 'deals' to move off tracker mortgage. Has anyone heard anything since ? It seems interbank rates are still high, they must be losing alot of money over this !


Comments

  • #2
    lpjonesy
    Closed Accounts Posts: 17 ✭lpjonesy


    You would be mad to move off a tracker , the banks are making losses on these products , If you have some spare cash then ask them if there is an offset from a deposit to the mortgage , you will find that their deposit rates are higher than a tracker rate and you profit and you dont pay DIRT. Its a great deal .
    But dont move off the tracker


  • #3
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭handlemaster


    lpjonesy wrote: »
    You would be mad to move off a tracker , the banks are making losses on these products , If you have some spare cash then ask them if there is an offset from a deposit to the mortgage , you will find that their deposit rates are higher than a tracker rate and you profit and you dont pay DIRT. Its a great deal .
    But dont move off the tracker


    I don't know if banks are offering the off set anymore


  • #4
    okiss
    Registered Users, Registered Users 2 Posts: 698 ✭✭✭okiss


    Don't move off your tracker rate. If you have some extra money in a lump sum or can save a min of of €50 you should consider 5 and half year - 17th issue saving certs with a 21% return after 5 1/2 years (AER 3.53%) with no tax ( no dirt tax).
    You can cash these at any time but interest is added each 6 months.


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