Bank of Scotland reveals 184 impacted tracker mortgage customers – Irish Times


Bank of Scotland, which introduced European Central Bank tracker mortgages to the Irish market in 2001, has disclosed that it has identified 184 customers who were impacted by an industry-wide overcharging controversy going back almost a decade.

“We have completed a review of our tracker mortgages as requested by the Central Bank of Ireland, and have identified a small number of accounts with errors relating to tracker interest rates,” a spokesman for the company told The Irish Times, adding that this equates to less than 1 per cent of the total mortgage accounts the company provided before pulling out of the market during the financial crisis.

“We will ensure that impacted customers are returned to the correct position, with appropriate financial redress and compensation.”

Bank of Scotland’s Edinburgh-based parent HBOS was taken over by Lloyds Banking Group in 2008 in a rescue deal. Lloyds subsequently handed back its Irish licence in 2010, and most of its loan book has been sold on to.

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