Pre 2006 Mortgage Customers To Be Included In Tracker Mortgage Examination

Consumers who took out their mortgage prior to 2006 are to be included in the Tracker Mortgage examination, according to Central Bank.

Fianna Fáil Spokesperson on Finance, Michael McGrath, said customers affected by the tracker scandal have been treated disgracefully by their banks.

He said: "Certain customers of AIB who took out their mortgage pre April 2006 were informed they were not deemed impacted by the tracker issue because their mortgage contract pre-dated changes that the bank made to the standard mortgage contract early in 2006.


"This decision has left customers feeling cheated and powerless to do anything about it. The ambiguity even left people wondering if these mortgages were incorporated in the Central Bank's Tracker Mortgage examination.

"I wrote to the Director General for Financial Conduct in the Central Bank, Ms Derville Rowland, to seek clarification of the issue and she has now confirmed that relevant mortgages entered into before 31 December 2015 are in scope for the examination. This confirms that the pre 2006 AIB mortgages and indeed pre 2006 mortgages relating to other banks are incorporated in the Central Bank's examination."

(CD/LM)