By Joe Brennan Saturday October 11 2008 Allied Irish Banks has pulled its tracker mortgage product to new mortgage applicants -- leaving National Irish Bank as the last lender offering this option in the market. "For some time now, the tracker mortgage product has been under review because of the continuing high cost of funds in the market," said AIB. "Tracker mortgages are priced off the ECB rate, but funded at money market rates, which given current market conditions is unsustainable." Irish borrowers who have tracker mortgages see their payments move automatically in line with the main European Central Bank rate....
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