Central Bank admits to weaknesses in checks on trackers

The Central Bank has admitted there are “weaknesses” in the system of checking whether banks are forcing struggling homeowners to give up their low-interest tracker mortgages.

The bank loosened up its mortgage arrears policy two years ago to allow banks to take tracker mortgages as a “last resort” before moving to repossess their houses.

But it has failed to supply any data on the extent of the practice, despite a year-long campaign by ...