Ms Francesca McDonagh:

In the context of an independent appeals process specifically for tracker mortgages, we set up an independent appeals process in line with the Central Bank requirements. It is an important part of the tracker mortgage examination, where customers have up to 12 months to submit an appeal. Some of our customers have asked for an appeal pack and several have proceeded to lodge appeals, some of which have been upheld. They have typically been upheld because of personal circumstances. Due to the independent nature of the panel, I do not get involved in individual cases but I examine the outcomes such as what numbers of cases were processed and upheld and the themes of why they were upheld. Often, as no two cases are the same, there is some individual information in the case or a personal circumstance that the bank would not have known about. The appeals process is in place for that very reason, that is, to look at the individual circumstances and try to find a solution. The solution may not be to the liking of every customer but it is an appropriate and independently led appeals process facilitated by Grant Thornton and chaired by independent members who examine the cases with great rigour.