negative equity switcher(tracker)

hello all

i've been approved for a negative equity switcher mortgage keeping my tracker +1%.

my current loan

balance------------------------------------322k@1.1%(26 years remaining)

new loan------------------------------------365k
tracker portion-----------------------------322@2.1% (1340 monthly 26 yrs)
new portion----------------------------------43k@5% (230 monthly 30 yrs)

my question is is the tracker @2.1 above ecb still an attractive product? when the ecb
rate rises will variables also rise too, or could i have a situation where the svr rate is lower
than the tracker?

hope this is clear, thanks for any advice in advance

regards
John