10,000 wronged tracker mortgage holders wait for full compensation

The Central Bank has laid bare the extent of the tracker mortgage scandal, but only expects its investigation to lead to all 15 lenders under investigation to start compensating customers by the middle of next year.

In its end-of-year update into over-charging and breaking of contracts over tracker rates by the industry, the regulator said the lenders under investigation had so far identified 8,200 accounts.

It expects 10,000 people will have been found to have been wronged when the probe is completed.