Pearse Doherty (Donegal, Sinn Fein)
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230. To ask the Minister for Finance the basis upon which banks are deciding on the definition of a prevailing tracker rate for persons being offered a tracker rate as a result of the Central Bank examination; and if he will make a statement on the matter. [16774/17]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank has indicated that the scope of the Tracker Mortgage Examination covers both contractual rights of and transparency of communications with tracker mortgage customers.  Issues in relation to margins will be dependent on contractual conditions, transparency and content of the documentation and disclosures made to individual customers concerned and, therefore, circumstances will differ from lender to lender.  As the Examination progresses, where issues arise, the Central Bank will consider them to ensure the fair treatment of customers. The lender's external independent third party are also required to confirm to the Central Bank regarding adherence to the framework in carrying out the Examination to ensure that all relevant impacted customers are identified.

Impacted customers who are not happy with any aspect of the redress and compensation they receive, including the margin that they receive from their lender, can make an appeal to the Appeals Panel.  This appeals process is in addition to impacted customer's rights to complain to the Financial Services Ombudsman, or to initiate legal proceedings before the courts.

Pearse Doherty (Donegal, Sinn Fein)
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231. To ask the Minister for Finance the rates at which each of the State backed banks were offering tracker rate mortgages on 1 January in each of the years 2008 to 2013, in tabular form; and if he will make a statement on the matter. [16775/17]

Michael Noonan (Limerick City, Fine Gael)
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I have received the following information in response to the Deputy's question:

Permanent tsb

Permanent TSB had the below tracker rates available to New Home Loan (PDH) customers on 1st January (2008 to 2013).  With regard to this the following should be noted:

- Where a range of rates / margins is quoted this varied depending on loan circumstances (eg. Loan to Value (LTV) and / or Loan Amount).

- In some cases the margin / rate quoted may have been for a discounted period and may not have been available for the term of the Mortgage.

- The tracker rates are representative of tracker rates available to Home Loan (Residential) customers only. These rates may not have been available for RIP or Commercial customers.

AIB:

AIB Group (which includes EBS and Haven brands) had the below tracker rates available to New Home Loan (PDH) customers on 1^stJanuary (2008 to 2013).  With regard to this the following should be noted:

- Where a range of rates / margins is quoted this varied depending on loan circumstances (eg. Loan to Value (LTV) and / or Loan Amount).