95% Of Mortgage Accounts Affected By Tracker Scandal Are Now On The Correct Rate

Central Bank has claimed that 95% of the identified mortgage accounts affected by the tracker scandal have now been put on the correct rate.

However, Fianna Fail spokesperson on Finance, Michael McGrath TD, has challenged the claim and said he has been contacted by several different mortgage holders who have been advised by their bank that they are part of the ongoing examination but who continue to be told there is no news yet on their account.


He said: "The Central Bank claims that the correct rate has been reinstated in 95% of 'identified accounts that require rate rectification' but this raises the obvious question about how many affected accounts have not yet been identified by the banks.

"It is certainly the case that most affected customers have not yet received any compensation or redress from their bank.

"The Oireachtas Finance Committee, of which I am a member, will take the opportunity of questioning the banks on this issue.

"I would urge members of the public who have been affected by this shocking scandal to share their experience of this issue with myself and other members of the committee on a confidential basis so that we can put the right questions to the banks when they appear before us."

(CD/LM)