Bank loses appeal against ombudsman's ruling on couple's tracker mortgage

Danske Bank must rectify interest rate, return interest overpaid, and pay compensation

A bank has lost a High Court appeal against the Financial and Pensions Ombudsman's finding that a couple were not adequately informed they would lose their mortgage tracker rate when they switched to a fixed rate for three years.

Ms Justice Niamh Hyland rejected Danske Bank's claim that the ombudsman was not entitled to uphold a complaint from Martin and Martina Moore over a loan to buy their home in The Avenue, Lakepoint Park, Mullingar, Co Westmeath.