Professor Philip Lane:

I am not quite sure in the sense that where the contract is clear that the commitment is in relation to pricing when the contract was signed that is where customers have been returned to their tracker mortgages. Where the case is made, in the alternative phrasing, when the customer has rolled off their fixed rate mortgage, then there is a different outcome. It depends on the contract. If it is clear that the pricing is at the time that the contract was signed, those are much bigger compensation cases.

The tracker examination deals with all sorts of contracts and issues. That is why there is no single narrative here. There are many different categories of customer. The scale of awards is very different depending on what the problem was, the time, or the bank, and so on.