Friday 20 April 2018

Revealed: The number of family homes lost due to the tracker mortgage scandal

Half of the properties lost because of the overcharging are family homes.
Stock Image
Half of the properties lost because of the overcharging are family homes. Stock Image
Charlie Weston

Charlie Weston

Close to 100 properties have been lost due to the tracker mortgage scandal, it has emerged.

Half of the properties lost because of the overcharging are family homes.

It is also predicted that the number of properties surrendered or repossessed could double to 200.

The revelation comes as the Central Bank has insisted that it is challenging the culture of the banks. Director at the Central Bank Derville Rowland said in a speech the regulator will launch a probe into bank culture in April.

It comes in the wake of more bruising encounters between politicians and banks over tracker overcharging.

It has now emerged that 97 properties have been lost due to the tracker scandal, with 51 of them residential properties, according to figures compiled by Fianna Fáil finance spokesman Michael McGrath.

He was speaking following the conclusion of hearings by the Oireachtas Finance Committee with the five main lenders.

He also predicted that the final total will be much higher.

"These figures will go way up as thousands of mortgage accounts have still to be gone through by the lenders. The final number will probably be 200 properties lost," he said.

Irish Independent

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