February 27, 2014 / 11:47 AM / 4 years ago

Permanent tsb says no sign of tracker mortgage solution

DUBLIN, Feb 27 (Reuters) - Permanent tsb’s chief executive said on Thursday that there was no system-wide solution on the way to take tracker mortgages off the mortgage lender’s books.

Ireland had been looking at ways to shift so-called “tracker” mortgages - which follow the European Central Bank’s low interest rate and are expensive to fund - from its main banks, to help speed their return to profitability.

“I run a bank around the things I can control, as far as I am aware there are no system solutions available to us. If there are, great,” Masding told a news conference at the launch of a new product aimed at encouraging tracker mortgage holders to move home.

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