Michael Healy-Rae (Kerry, Independent)
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127. To ask the Minister for Finance his views on a matter (details supplied) regarding tracker mortgages; and if he will make a statement on the matter. [52999/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the Central Bank’s most recent Tracker Mortgage Examination status update report was issued on 17 October last and it indicated that, as at the end of September, approximately 13,000 mortgage accounts have been identified as impacted through the examination.  This is additional to the 7,100 mortgage accounts which were rectified and remedied prior to the commencement of the industry wide examination.  In addition, since the October update report, one lender has accepted that it has a further 6,000 impacted accounts.  Lenders have also commenced the payment of redress and compensation to impacted customers and following my meetings with the main mortgage lenders at the end of October, the various banks made specific commitments on the roll out of these payments.  

The Central Bank will now publish a further update report on the tracker examination next week and I look forward to receiving this.  In particular, it will be important to find out more conclusively the number of people who have been affected by the tracker scandal and the progress banks have now made to deal with their impacted customers.  I will closely look at the updated Central Bank report when it is to hand and I will then consider what further steps should be taken at that point.  However, it remains the priority of the Government and the Central Bank to complete the tracker examination as quickly as possible and to ensure that all impacted accounts are identified and that appropriate redress and compensation is paid to the affected borrowers.