Mortgage holders urged to read contract terms

SEVERAL thousand of the country’s mortgage holders could save hundreds of euro a month by checking their terms and conditions.

Those coming to the end of four and five-year fixed rate deals have been advised to check the terms of their contacts to ensure they receive attractive tracker deals when their fixed rate terms expire.

In 2006 and 2007, tracker mortgages were extremely popular with banks. In cases of fixed rate mortgages, many were structured to revert to a tracker mortgage.