Tracker Mortgage News

AIB announced this morning that it is taking steps to restore some 3,000 mortgage holders to tracker mortgages, pay refunds to these customers of the amounts overpaid while they were on a variable mortgage rate, and some may also be entitled to receive compensation. This is an initial number and more restorations to tracker mortgages are expected once AIB completes its internal review.

This is part of an banking industry wide review that was ordered by the Central Bank so other financial institutions are expected to announce similar measures in the near future.

Source – 28/07/2016