Oireachtas Joint and Select Committees

Thursday, 1 February 2018

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

Tracker Mortgages: Ulster Bank

9:00 am

Mr. Paul Stanley:

The figures quoted by the Deputy are correct in terms of progress. For this quarter, we are focused on getting the 2,500 out. It is not the case that people have been sitting on their hands and have just been focused on the 197 customers we paid in January. They are also focused on getting the other two months ready and out the door as well. I accept fully that this has taken too long to do. Regarding the reasons for it, what I tried to outline in the letter was the complexity of what we are dealing with. People are working very hard and are fully aware of the difficulty this is creating for customers. They are fully aware of it. We want to solve this for both our customers and ourselves as quickly as possible. We have no interest in dragging this out. As the Deputy can imagine, it is costing us a lot of money to run all these processes internally. We need to fix it for our customers and ourselves as quickly as possible and that is where our focus lies.

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