Oireachtas Joint and Select Committees

Thursday, 28 September 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank

9:45 am

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

That is not good enough. This is a deadline imposed by the regulator about a tracker mortgage examination concerning where customers were, in some cases, wrongly denied a tracker rate. Money was taken from them and Mr. Verbraeken will not put any figures on it. I will put some figures on it and I could go through a whole folder of them. I will give the witness two examples. One family wrote to me stating the impact on it is over €600 per month. It is a working family with two young children. Another family that contacted me believes it is overpaying by approximately €800 per month, yet Mr. Verbraeken cannot even give an estimate as to when he will complete phase 2. That is not good enough.

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