Mortgage provider Springboard Mortgages has been fined €4.5m for overcharging customers for their tracker mortgages.

The Central Bank has fined Springboard Mortgages — a unit of Permanent TSB Group — €4.5m for overcharging customers for their tracker mortgages.

Three senior managers at Permanent TSB yesterday apologised for the failures of the bank in not informing customers about their mortgage rights.