Central Bank to be quizzed over tracker mortgage scandal

Bank has failed to discipline a single banker for the illegal withdrawal of over 17,000 tracker mortgages

26th March, 2017

The Central Bank is to be quizzed about why it has failed to discipline a single banker for the illegal withdrawal of over 17,000 tracker mortgages.

So far, the banks have paid back over €78 million to homeowners who were wrongly moved off their tracker mortgages.

Tracker mortgages are linked to the European Central Bank rate with interest rates as low as 1 per cent, compared to a typical standard variable rate of 3-4 per cent.

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