Oireachtas Joint and Select Committees

Tuesday, 6 February 2018

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

Tracker Mortgages: KBC Bank

4:00 pm

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

We will take an interest in them.

I will turn to the other cohort. In October, KBC revised down the 490 customers to the 417 mortgage accounts. This was the very first group that had been identified as not rolling on to a tracker rate after a fixed rate period or were moved off their tracker rate following a change to the terms of their loan or were on the incorrect tracker margin. Were those cases clear cut? They had a contractual entitlement to a tracker rate at a particular margin, or at least an entitlement to be offered such a tracker.

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