Pearse Doherty
Ceist:24. Deputy Pearse Doherty asked the Minister for Finance when the tracker mortgage investigation will be completed; and if he will make a statement on the matter. [9847/19]
Amharc ar fhreagraThursday, 28 February 2019
Ceisteanna (24)
Freagraí scríofa
The Central Bank of Ireland published its latest update on the Tracker Mortgage Examination on 4 February
(https://www.centralbank.ie/docs/default-source/consumer-hub-library/tracker-issues/update-on-tracker-mortgage-examination---february-2019.pdf?sfvrsn=4) which indicated that:-
- the number of affected customers stood at 39,800 at end-December, an increase of 1,400 since end-August 2018;
- 97 per cent of verified affected customers have received their redress and compensation at end December 2018;
- redress and compensation payments are now largely complete with €647 million paid out by lenders at end-December.
The Central Bank’s priority at all times throughout the Examination has been to make sure that all affected groups of customers have been identified and remediated. The Central Bank advises that this work has now been completed at the majority of lenders.
In the case of the remaining lenders, supervision work continues, as the Central Bank must ensure that the work carried out by lenders is sufficiently rigorous and thorough to have addressed satisfactorily any remaining issues affecting groups of customers and to ensure that all eligible groups of customers are included for redress and compensation. This work is expected to be complete in the remaining lenders in Q1 2019.
The Central Bank indicates that it expects that its final report will be published in the coming months.