Probe as borrowers in arrears hit with legal fees

The Central Bank is investigating the legality of commercial banks slapping legal fees onto the mortgages of their customers who have fallen into arrears even before cases are concluded, the Irish Examiner can reveal.

More than 60,000 mortgage holders in arrears on their home loans are being hit with legal fees, which often run to tens of thousands of euro, but the basis of the banks’ actions is now under examination, it has been confirmed.