Last edited: 13 Jun 2018 Hi all I got a call from EBS (a very kindly man) to say my mortgage was an affected tracker, the incorrect rates were applied and that I should consider redress and compensation. The process has been explained to me and that it will take until the end of 2018 to fully resolve. I have as yet little detail. My situation seems different to others. I had a split mortgage on my home - one fixed (on variable base rate after fixed expiry), one variable (on ecb repo rate). On the Variable Loan: The interest rate is noted as follows: Variable ECB Repo Rate + .99% (followed by term) Under this is a qualifying paragraph: Important Note on Tracker Mortgages: Before the loan issues, if no tracker mortgage rate is available at the time, the prevailing variable rate will apply. With the tracker mortgage the margin is linked to a specified index or indices and remains constant for the life of the loan. In this case, the tracker mortgage will be no more than 0.99% above the prevailing Central Bank Main Refinancing Ops Min Bid Rate (Repo Rate) for the term of the loan. On the Fixed loan: Interest Rate is Fixed for X years at X% After this: Variable Base Rate applies currently X% Important Note on Tracker Mortgages: in the event of a rate change before loan issue, the rate will be altered to the tracker rate on offer on that date. If no tracker mortgage rate is available at the time, the prevailing variable rate will apply. With the tracker mortgage the margin is linked to a specified index or indices and remains constant for the life of the loan. In this case, the tracker mortgage will be no more than 0.99% above the prevailing Central Bank Main Refinancing Ops Min Bid Rate (Repo Rate) for the term of the loan Followed by: If there is an interest rate change before the loan issues, the rate will be altered to the fixed rate on offer....if no fixed rate is available at the time, the variable rate will apply. I hope this may offer clarity on the variable base rate to others. The prevailing rate term only appears in the drawdown phase. The variable base rate I took to be a tracker based on the above. As I find out more, I will update. In my case, the upshot is our tracker was unevenly applied on both mortgages. After several years, we were completely stressed trying to make the mortgage every month. Our house was not in negative equity, we couldn't keep paying so felt we had no option but to sell our family home. So we have no mortgage now - no house either. My estimates are that the monthly overcharge varied from €200-€500 per month and over the sustained time frame, may well have been the difference between keeping our home and selling it. It was traumatic at the time and the consequences - financial and health - have been far reaching. I understand the overcharge being refunded as straightforward (very informative post thanks Brendan). The bank didn't 'force' us, we voluntarily sold but I do believe this overcharge compromised our ability to keep our home. I don't know if we could have kept going indefinitely but certainly we could have kept our head above water for longer. Where and how do I even start to outline what might be considered "reasonable compensation"? Any advice or insights would be very welcome, thank you. YerGrand Edited to clarify Variable Rate Edited to remove some other identifying info - sorry bit paranoid now!