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€647m Paid To 39,800 Customers Affected By Tracker Mortgage Scandal

€647 million has so far been paid out in redress and compensation as a result of the tracker mortgag...
Niall Colbert
Niall Colbert

1:16 PM - 4 Feb 2019



€647m Paid To 39,800 Customers...

News

€647m Paid To 39,800 Customers Affected By Tracker Mortgage Scandal

Niall Colbert
Niall Colbert

1:16 PM - 4 Feb 2019



€647 million has so far been paid out in redress and compensation as a result of the tracker mortgage scandal.

A Central Bank examination of 2 million mortgages has found a further 1,400 homeowners were affected.

It also says 39,800 customers were either denied a tracker rate, or charged the wrong rate of interest.

In some cases this led to families losing their homes.

Derville Rowland, Director General for Financial Conduct at the Central Bank, says they'll continue to put pressure on the banks until all affected customers have been identified:

They must have a customer-centric view and be able to demonstrate that by the outcomes they deliver for their customers.

We'll be judging them on that in this examination and in all of their obligations.



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Central Bank Scandal Tracker Mortgage

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