Hi BrendanThere is considerable disagreement between the Central Bank and the lenders over whether someone should have lost their tracker or not. Obviously, if the bank thinks that you gave up your tracker voluntarily, then you have not been put back on the tracker rate yet.
My guess is that the journalist took the quote down incorrectly or like the indo, has changed the quote to create a sensationalist headline.According to Leo varadkar in the Irish examiner "98% of people who wrongfully had their trackers taken off them have had them restored."
Where does that leave the rest of us still fighting to get our trackers back !?
Leo obviously thinks we have no case!!!
Hi DamAre there really 2 million mortgages accounts being reviewed Brendan? There's only around 2 millions households in Ireland in total and a huge percentage have no mortgage on them.. in 2011 there were 770,000 residential mortgages, I don't imagine there's many more now.
IIRC, Bank of Ireland has identified a few hundred impacted customers and has put them back on the tracker rate. They may not yet have written to them or given them a refund.BOI haven't sent out any letters to anybody yet & it will be another 5/6 weeks before they have this done At this stage I don't know who to believe
I have looked back again at the Transcript of last weeks Finance Committee. The CB said that 36% of the total 2m mortgages were in scope ie approx. 719,000 which were all examined it stated? ( Cant see how they can confirm this)Hi Dam
Derville Rowland said it twice at the Oireachtas Finance Committee hearing and I thought that there must be some mistake. I did the same calculations as you and said that there weren't even 2m mortgages. So I emailed the Central Bank press office and got this reply:
"If you have a look at the Executive Summary from the March Update (available here), on page 3, it states:
“The Examination is the largest, most complex and significant supervisory review that the Central Bank has undertaken to date in respect of its consumer protection mandate and involved an initial review of more than two million mortgage accounts by lenders (being the total mortgage book in the relevant period) to identify the number of in scope accounts.”"