33% of mortgage holders won’t reap rate cut rewards

A THIRD of all mortgage customers will be left swinging with higher rates next year as they effectively subsidise additional benefits for half of households on tracker deals.

In the new year, 53% of home loans will benefit from successive repayment reductions inside two months as their tracker deals drop in line with interest rate cuts recently announced by the European Central Bank.

However, a third of customers, who have variable terms, will not reap the same rewards because key lending banks are not passing on the rate cuts.