Oireachtas Joint and Select Committees
Tuesday, 6 February 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Tracker Mortgages: Permanent TSB
4:00 pm
Mr. Stephen Groarke:
The customers had a regulatory right to a tracker mortgage because the very literal reading of the legal contract, in those cases, would be that they did not reach the expiry of their fixed rate. That is superseded by a regulatory obligation under the consumer protection code to give them the right warnings. In this case the regulatory obligation, under the consumer protection code, supersedes anything that is in the contract.
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