Property experts are warning that AIB's plans to allow customers retain their tracker mortgage won't have a major impact on the Irish property market.
It comes after AIB, and its subsidiaries EBS and Haven, announced it is to allow its customers retain their tracker mortgages if they want to buy a new home.
Customers can pay the existing tracker rate, plus a further 1% for the duration of the mortgage. Any additional money borrowed would be subject to the higher variable or fixed interest rates.
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It's hoped these new tracker-transfer products will help ease the housing shortage in Dublin. But Karl Deeter of Irish Mortgage Brokers isn't so sure:
