HOMEOWNERS will be entitled to retain their valuable tracker mortgages when they move house, according to the country's largest bank.
The move to allow AIB customers to keep their trackers means most lenders in the market are now offering some sort of transfer. The new tracker arrangement will be available for customers trading up or down from their current home.
It is being hailed as a huge boost for the Dublin housing market which has been stifled due to buyers reluctant to give up their tracker. Homeowners on trackers have been reluctant to move as they would lose the low-cost mortgages. Experts have said this is one of the key reasons for a chronic shortage of homes for sale, prompting prices to shoot up by 14pc in the capital in the last year.