Oireachtas Joint and Select Committees

Tuesday, 30 January 2018

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

Tracker Mortgages: Bank of Ireland

7:10 pm

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I would like to refer to the case of an individual who has been a customer of the bank since 2004. In 2011, the method of applying the interest to his loan was changed from EURIBOR to bank cost of funds. He believed he was on a tracker-type product, but just like that it was changed in the way I have described. Bearing in mind the principle of putting the customer first and giving the customer the benefit of the doubt, why should someone like that end up in court? His bank would not listen to him.

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