Tracker Mortgage Examination


The Central Bank of Ireland has published the latest Progress Report on the ongoing tracker mortgage examination. An updated FAQ and infographic for consumers has also been published. Tracker Mortgage Examination Update - February 2019 Update on Tracker Mortgage Examination - February 2019 | pdf 310 KB

Derville Rowland, Director General, Financial Conduct talks about the April 2018 examination update and the impact of the issue on bank customers in Ireland. She also has advice to those who have received redress/compensation cheques and talks about the next phase of the Examination.


Since 2010, the Central Bank of Ireland has identified and pursued tracker mortgage-related issues with lenders. As new issues continued to emerge, we decided that a system-wide review was necessary, to ensure that all lenders are acting in their customers’ best interests.  

We wrote to 15 lenders in December 2015 setting out the framework for carrying out the Tracker Mortgage Examination. The Examination covers all mortgage lenders who have sold tracker mortgages in Ireland at any time in the past. It covers both banks and other regulated lenders, and also includes lenders that are no longer selling mortgages as well as mortgages that have been redeemed or switched to another lender.

The Examination requires all lenders to examine:

  • The extent to which they met their contractual obligations to their customers
  • Their compliance with their obligations under relevant consumer protection regulations in their dealings with their customers
  • Their communications with customers in respect of these matters.

Progress updates

The Examination is progressing and all lenders having commenced redress and compensation. The results are becoming evident in terms of the numbers of people identified and the scale of the redress and compensation paid. Regular progress updates on the Examination have been published. The most recent update was published in February 2019. This update contained a report setting out the progress made by lenders in completing the review and information for consumers on the independent appeals process. A final report on the Tracker Mortgage Examination will be published upon completion of the Examination.

Information for consumers:

See also: