We jumped aboard the departing tracker train
WE often joke that we managed to get the last tracker mortgage in Ireland. Then we count our lucky stars that at least one bit of amateur financial speculation has managed to pay off in my household.
When myself and my wife decided to buy in late 2008 (naively thinking prices had already fallen as much as they were likely to fall in Dublin) the banks were already retreating into their shells on home loans.
When it became apparent that the banks were withdrawing trackers in the coming weeks, it seemed like we were missing a trick. That there might be merit in jumping the last horse to Trackerville.
Since July 2008, more than four percentage points have been slashed from the ECB rate.
Having sat on the garden fence between a home paid for by tracker and a home paid for by variable, I give thanks that I somehow managed to fall the right way.