A €200k mortgage @ 4.5% instead of 1% would be €7,000 a year. If they have been overcharged for 5 years, that is €35,000. Without even considering the savings in future years.Industry sources say the total number of customers affected is likely to be in the region of 2,000. The average cost to the bank is expected to be in the region of €10,000 to €15,000.
First of all she had to be on a tracker at some stage.I have a mate down the country on a PTSB variable rate mortgage and they're struggling.
How would you know if you were 'denied' a tracker?