Black_Adder
Registered User
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As folk may recall this was an advertisement on behalf of the Financial Regulator (recently deceased). It seems a lot of us didn't know what a tracker mortgage was with the creature called a 'prevailing tracker' and another species 'appropriate balance' tracker - at end of fixed rate period.
So what does below mean?
"...Irish mortgages can be on a fixed or variable rate, with the vast majority (85 per cent) on the latter. There are two types of variable rate loans:
- those that track the ECB base rate at an agreed margin, typically called 'trackers';
- and those that do not.."
So who might have written this?
"Variable Mortgage Rate Pricing in Ireland - Jean Goggin, Sarah Holton, Jane Kelly, Reamonn Lydon and Kieran McQuinn- Economic Letter Series Central Bank of Ireland - Vol 2012, No. 2"
Do they know what a tracker is?
Then where does the 'prevailing tracker' - or 'appropriate balance' after the fixed rate expires come from? And are these 'tracker mortgages' as properly understood?
So what does below mean?
"...Irish mortgages can be on a fixed or variable rate, with the vast majority (85 per cent) on the latter. There are two types of variable rate loans:
- those that track the ECB base rate at an agreed margin, typically called 'trackers';
- and those that do not.."
So who might have written this?
"Variable Mortgage Rate Pricing in Ireland - Jean Goggin, Sarah Holton, Jane Kelly, Reamonn Lydon and Kieran McQuinn- Economic Letter Series Central Bank of Ireland - Vol 2012, No. 2"
Do they know what a tracker is?
Then where does the 'prevailing tracker' - or 'appropriate balance' after the fixed rate expires come from? And are these 'tracker mortgages' as properly understood?