# Some banks are no longer offering Tracker Mortgages. Can this affect me?



## St. Bernard (30 Sep 2008)

Can anyone answer my question please?

We have a tacker mortgage with Permanet TSB over 2 years now. We were hit with a few interest rate increases over this time. However i have heard that some banks are now longer offering tracker mortgages. Can this affect me or does Permanent TSB have to honour our contract.

Also anyone think the ECB will cut interest rates in the next few weeks.


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## ClubMan (30 Sep 2008)

*Re: Tracker Mortgages*



St. Bernard said:


> We have a tacker mortgage with Permanet TSB over 2 years now. We were hit with a few interest rate increases over this time. However i have heard that some banks are now longer offering tracker mortgages. Can this affect me or does Permanent TSB have to honour our contract.


Have they contacted you saying that there is any change to your loan agreement? What do the terms & conditions of your loan agreement say?


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## St. Bernard (30 Sep 2008)

*Re: Tracker Mortgages*

No contact has been made in relation to the agreement. To be honest i am not really sure what the terms and conditions are as i am not too well versed in the topic of mortgages. I would imagine the standard t & c's whatever they may be. (Yes i am aware everyone is different)


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## ClubMan (30 Sep 2008)

*Re: Tracker Mortgages*

The terms & conditions of the agreement that you signed and of which you were presumably given a copy!


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## St. Bernard (30 Sep 2008)

*Re: Tracker Mortgages*

Right so. Thanks


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## NorfBank (30 Sep 2008)

*Re: Tracker Mortgages*

To my knowledge PTSB are the only bank to have a clause in their tracker mortgage loan offers allowing them to vary the terms of the mortgage i.e abolish the tracker and put the customer on a variable rate. 
I think this clause is just on more recent mortgages but as advised already you should check the T & C's.

As for the ECB rate cuts - nobody knows.


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