Pearse Doherty (Donegal, Sinn Fein)
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148. To ask the Minister for Finance if tracker mortgages will be investigated in cases in which the applicant had an appeal refused by the independent appeals panel of the lender and is unhappy with the appeal outcome; and if he will make a statement on the matter. [6292/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank Tracker Mortgage Examination Framework provides that lenders are to set up an independent appeals process to deal with affected customers who are dissatisfied with any aspect of the redress and compensation offer they received from lenders. The Framework also provides that affected customers can accept the offer for redress and compensation from lenders and, if they are unhappy with the offer, still appeal. Redress and compensation offers cannot be reduced by virtue of a customer lodging an appeal.

Appeals form an important part of the overall Examination process as they ensure an independent and transparent consideration of issues raised by affected customers about any aspect of the redress and compensation they have been offered. In particular, affected customers who have suffered severe detriment, and feel that their personal circumstances have not been sufficiently taken into account, may wish to bring that information forward for consideration by the appeals panel within a set period of time from receipt of their redress and compensation offers.

Where a customer who has appealed and does not accept the findings of the Appeals Panel in place under the Tracker Examination Framework, they still retain the option to bring a complaint to the Financial Services and Pensions Ombudsman (FSPO) and/or to initiate court proceedings within a specified period of time.

While the Central Bank has no role in adjudicating on appeals under the Tracker Examination Framework, the Central Bank advises that it is monitoring the progress and outcomes from appeals and expects lenders to consider the outcomes of appeals, including whether they have any wider customer relevance.