Written answers

Thursday, 30 March 2017

Department of Finance

Tracker Mortgages

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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130. To ask the Minister for Finance the number of customers of a bank (details supplied) who have been identified by the IBRC liquidators as having possibly been affected by the tracker mortgage scandal. [15807/17]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators of IBRC that the population of sub-accounts identified as in-scope for review under the Direction from the Central Bank of Ireland to IBRC (in Special Liquidation) in relation to the tracker mortgage examination is circa 29,000. The review of these in-scope accounts is on-going and it is estimated to be completed in the coming weeks.

It is important to note that while an account may be in-scope for the purposes of the Central Bank of Ireland tracker mortgage examination, the Special Liquidators have advised that this does not necessarily follow that detriment has been suffered by each and every customer. The final number of customers who have been affected will be known in the coming weeks.

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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131. To ask the Minister for Finance the number of customers of banks (details supplied) who have received redress as a result of the Central Bank's tracker mortgage investigation; the total cost of redress to date; the anticipated final redress costs; and if he will make a statement on the matter. [15808/17]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators of IBRC that no customers have received redress at this point in time as a result of the Central Bank of Ireland tracker mortgage examination. The review of accounts which have been identified as in-scope as part of this examination is on-going and has not been finalised but is expected to be completed in the coming weeks. If detriment has been suffered by any customers, redress will be determined following the conclusion of the examination.

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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132. To ask the Minister for Finance if there are any legal actions in train against the IBRC liquidators from customers of a bank (details supplied) who are of the view that they were wronged in having a tracker rate denied to them and consider that the redress and compensation being offered to them is not enough; and if he will make a statement on the matter. [15809/17]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators of IBRC that there are no legal actions against them in connection with the tracker mortgage examination.

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