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Central Bank Reveals Thousands More Hit By Tracker Mortgage Scandal


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A further 3,400 customers have been identified who had their tracker mortgages wrongly removed or were overcharged by their banks.

The Central Bank says that brings the total number affected to 37,100.

Almost 90% of those affected have been offered compensation.

Around 450 people received redress and compensation of more than €100,000 - including 11 customers who got compensation worth more than €500,000 for losing their properties.

The Central Bank's investigation is due to be completed by June - with the final number expected to rise further.

Derville Rowland - the Director General of Financial Conduct at the Central Bank - said her organisation recogonises the "devastating effects that lenders’ failures have had on people".

She observed: "We’re using our powers to force the banks into remedying the scandal they caused.

"The payment of redress and compensation to those affected is now very significantly advanced, and proceeding in line with the timelines set out by the Central Bank."


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