SaySomething
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The Central Bank have confirmed that they will release their final tracker review update for year end on Monday morning. The Irish Independent have an exclusive interview with Philip Lane (Governor Central Bank) today, along with accompanying articles. There are some errors in the articles, and it's not clear whether they were made at the journalist's end, or by the Central Bank.
The biggest is the statement that the average amount of compensation will be €25,000. That's not the compensation figure, that's the refund figure. As I understand it, the average compensation figure is far lower than that. They've edited their online article to say that it's the combination of refund and compensation: http://www.independent.ie/business/...candal-likely-to-cost-banks-1bn-35301346.html
The articles also states that over 8,200 homeowners have been identified and contacted by lenders, and that it's likely the final figure will be in excess of 10,000. Considering BOI and Ulster Bank only made their statements in the past few days and openly said they'd be contacting their customers in the coming weeks that's hard to believe. I could be corrected here but I don't think any of their (UB & BOI) customers have been contacted yet which would amount to approximately 6,000 customers between the two.
With the official statement being released on Monday it's no surprise that all the banks have made their own official tracker statements and micro-sites live on their websites for customers affected by the tracker review in the past week.
There is one stand-out spoiler from the articles today. That is that the deadline for completing the investigation is being extended beyond December 2017. The new deadline isn't mentioned but it's likely to be included in the update on Monday morning.
The biggest is the statement that the average amount of compensation will be €25,000. That's not the compensation figure, that's the refund figure. As I understand it, the average compensation figure is far lower than that. They've edited their online article to say that it's the combination of refund and compensation: http://www.independent.ie/business/...candal-likely-to-cost-banks-1bn-35301346.html
The articles also states that over 8,200 homeowners have been identified and contacted by lenders, and that it's likely the final figure will be in excess of 10,000. Considering BOI and Ulster Bank only made their statements in the past few days and openly said they'd be contacting their customers in the coming weeks that's hard to believe. I could be corrected here but I don't think any of their (UB & BOI) customers have been contacted yet which would amount to approximately 6,000 customers between the two.
With the official statement being released on Monday it's no surprise that all the banks have made their own official tracker statements and micro-sites live on their websites for customers affected by the tracker review in the past week.
There is one stand-out spoiler from the articles today. That is that the deadline for completing the investigation is being extended beyond December 2017. The new deadline isn't mentioned but it's likely to be included in the update on Monday morning.