Tens of thousands of homeowners are to be given the chance to move house while keeping their tracker mortgages.

Permanent TSB is to outline details of a new deal to allow customers trade up, without losing their cheaper home loans.

A key element of the scheme allows homeowners to keep the tracker, provided they pay an extra 1% for the full term of the loan.

Personal Finance Editor of the Irish Independent Charlie Weston says it's a very positive step: