Banks’ €3m tracker mortgage tax bill

At least 17,000 bank customers were wrongly moved off their low-interest tracker mortgages onto more expensive variable rate mortgages

2nd July, 2017
Figures back in line Pic: RollingNews.ie

The country’s leading banks have been forced to repay almost €3 million to the Revenue Commissioners as a result of the tracker mortgages scandal.

At least 17,000 bank customers were wrongly moved off their low-interest tracker mortgages onto more expensive variable rate mortgages. This meant that they qualified for higher mortgage interest tax relief from Revenue than they would have if they had remained on their trackers.

Revenue is now getting banks to deduct...

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