Oireachtas Joint and Select Committees

Tuesday, 23 January 2018

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

Tracker Mortgages: Allied Irish Banks

4:00 pm

Mr. Tom Kinsella:

We have four different levels of compensation. The compensation percentage runs from 15%, for the vast majority, some 85% of customers, to the 22% range for customers who had entered the legal process, 22% for customers where the property has been sold but the rate has not been deemed causal and, finally, for those most severely impacted, the 14 customers we spoke about, the compensation rate is 30%. On top of that are the compensation procedures that Mr. Byrne talked about. On top of that again is a minimum payment of €50,000 per customer.

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