MORE TRACKER CUSTOMERS IDENTIFIED AS MOST HAVE RECEIVED SOME REDRESS

A further 3,400 customers have been identified who had their tracker mortgages wrongly removed or were overcharged by their banks.

The Central Bank says that brings the total number affected to 37,100 – almost 90% of whom have been offered compensation.

Around 450 people received redress and compensation of more than €100,000, including 11 customers who got compensation worth more than €500,000 for losing their properties.

The Central Bank’s investigation is due to be completed by June – with the final number expected to rise further.

Meanwhile, AIB says 96% of customers that had tracker mortgage issues have now received compensation.

The bank’s quarterly update also reveals that new lending increased by 18 per cent in the first three months of the year.

The value of non-performing loans fell by €1 billion to just over €9 billion.

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