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John Hearne: Could tracker-type mortgages stage a comeback?

A new mortgage product from Avant has turned heads and looks to offer more options in the market, writes John Hearne
John Hearne: Could tracker-type mortgages stage a comeback?

Banks stopped offering full tracker mortgages 15 years ago. Picture: iStock

Avant Money is launching a new variable-rate mortgage product which is benchmarked against a key eurozone lending rate.

Sound familiar? Tracker mortgages, in which the rate you pay shadows the European Central Bank rate, were once hugely popular in Ireland, but the banks stopped offering them over 15 years ago. Avant is calling its new variable-rate mortgage product the Flex Mortgage.

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