I was quite clear on that. It's still a tracker. If the tracker tracks ECB refi rate it will therefore fall in line with the drop in that rate, unless your letter of offer explicitly provides for variation from that rate (in which case it'll also specify under what conditions that may occur).
I was only seeking clarification cause I was listening to some commentators on newstalk this afternoon who were uncertain regarding the rate cut in relation to non-PPR tracker mortgages
I saw mention of passing on for non-PPR mortgages being doubtful, but I've assumed that must mean investor standard variable rates. If you're really anxious, double-check your paperwork in case there's a clause about moving to track other rates.
I think if there was an option for the banks not to pass on cuts to investers on trackers, then they would have used this option by now. They have pass on previous cuts and will continue to do so because they has no choice..
The banks can do what they want on standard variable rates and have chosen to differentiate between PPRs and Investment properties.
They have no discretion to this on trackers which must track the ECB rate. There are very limited situations where trackers have an additional clause other than to track the ECB rate but I'm not sure if these were even sold in Ireland