The Central Bank have revealed that a total of €647m has been paid out in compensation to those affected by the recent tracker mortgage scandal.
In an announcement the Central Bank confirmed that a total of 39,800 customers were compensated by the country’s six main lenders.
The compensation payments were made after lenders were found in breach of terms after they switched lenders off their tracker mortgages without notification.
It is understood that a total of 97% of those affected have been offered compensation by the banks involved.