Bank of Scotland (Ireland) to discontinue tracker loans
Wednesday, 22 October 2008

Bank of Scotland (Ireland) has become the last Irish lender to withdraw its range of tracker mortgages. The bank is to discontinue offering new tracker mortgages from November 4. Having first introduced the tracker mortgage to Ireland back in 2001, Bank of Scotland (Ireland) is currently the only lender still offering this type of mortgage.
Bernard Kingston, Head of Homeloans at Bank of Scotland (Ireland), said: “We are reluctantly withdrawing our tracker products. They are a great product for customers as they provide real value for money and complete transparency in terms of rate. Unfortunately, the turmoil in the financial markets makes them no longer commercially viable".



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