AIB today said that, from today, it will no longer offer Tracker Mortgages to new mortgage applicants.Irish banks are abandoning the tracker mortgage because it is costing them too much to fund, businessworld.ie reports. Mortgage lenders are losing money on an estimated 100,000 tracker mortgages in teh market that are costing them more to fund than they are receiving in interest income.
This has prompted some of the country's best-known lenders to abandon the product in recent days.
