Tracker Mortgage Examination


As part of the Central Bank of Ireland led Tracker Mortgage Examination taking place in all relevant Irish retail banks, permanent tsb has identified 1,979 mortgage accounts which were entitled to redress and/or compensation as a result of failures by the bank in respect of the management and administration of tracker mortgage entitlements. The account holders of all 1,979 accounts have now received or have been offered redress and/or compensation. The bank understands the impact that these failures have had on its customers and has written directly to each impacted account holder to apologise for the failure.

The Examination set out to identify any instances where there was a failure in the administration or management of a mortgage account and to ensure relevant accounts were corrected and returned to the position they would be in had no failure occurred.

In line with the Central Bank of Ireland requirements, an independent advisory firm, KPMG, was appointed to oversee key aspects of the Examination which is also subject to Central Bank of Ireland review.

Below are answers to some frequently asked questions on this matter. Should you have any additional queries regarding this review you can also contact us, Monday to Friday 08.00 - 19.00 on Freephone 1800 804 324 or +353 1 212 4867.  

Frequently Asked Question (FAQ’s)

Which accounts were examined?

permanent tsb has conducted a comprehensive review of both main residence and Buy to Let mortgage accounts drawn down between 1 January 2004 and 31 December 2015 with regard to tracker rates.

The review considered among other things:

  1. Accounts that are currently or were previously on a tracker rate
  2. Accounts that are or were ever on a higher tracker rate
  3. Accounts that had/have a contractual condition to mature to a tracker rate
  4. Accounts that had/have a contractual right to be offered a tracker rate

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When will I know if I am in scope?

Where an issue was identified with any individual account, permanent tsb wrote to the account holder(s) directly before 31 December 2017. If you have not received a letter it means that your account has not been identified as one of those impacted in this review.

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I still think I’ve a problem with my mortgage what should I do?

If you have a general query or a specific concern about your own mortgage account, then you may raise this with us by calling Freephone 1800 804 324 or +353 1 212 4867.

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Will this examination apply to main residence only or to Buy to Let properties also?

The review included both main residence and Buy to Let tracker mortgage accounts.

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I want to make a complaint, who do I contact?

To make a complaint over the phone you can call Freephone 1800 804 324 or +353 1 212 4867.

If you wish to make a complaint in writing you can email customerresolutioncentre@permanenttsb.ie or by post to Customer Resolution Centre, permanent tsb, Churchyard Lane, Douglas, Cork.

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