Lenders slammed for tracker mortgage scandal

Banks in Ireland had sought since 2009 to play down the tracker mortgage scandal which has had a “catastrophic” effect on customers, an expert in tracker mortgages has alleged at the Oireachtas Finance Committee.

Financial services expert Padraic Kissane, who first represented customers wrongly moved off tracker mortgages in 2009, said banks in Ireland had shown no remorse for “destroying lives” and having a “catastrophic” effect on families.

He said the 15,000 customers affected meant 500,000 people when those affected directly and indirectly were taken into account.