Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I am sure the Central Bank is aware of numerous complaints by individuals about the rates that are being applied to their mortgages when their tracker mortgages are being restored. Permanent TSB, for example, has restored some individuals back to their right tracker rates. Individuals are complaining that they are being restored onto the wrong tracker rates. I will give an example. A person who took out a mortgage with Permanent TSB in 2009 and decided to fix his or her mortgage rate for the first three years should have been put on the tracker rate, which at the time was 75 basis points above the ECB rate, when the three-year fixed-rate period ended. Such a person is now is being offered a tracker rate which is 225 basis points above the ECB rate. This issue has been mentioned and identified. I understand the Central Bank has said it cannot get involved in these issues. Will it get involved, or will we have to wait a couple of years for groups and individuals to go through all of this again so that we can reach a point where this issue is dealt with?