High profile consumer advocate Brendan Burgess has suggested that nobody lost their home as a result of being denied a low-cost tracker mortgage, in spite of data from the Central Bank of Ireland this week suggesting that 99 families lost possession of their houses as a result of the tracker scandal. “I have yet to come across anybody who has lost their home because their lost their trackers. There were people who lost their tracker and lost their homes but the two were very tenuously connected,” Mr Burgess told Inside Business, a podcast from The Irish Times. According to the Central Bank’s final report on the tracker scandal, following an industry-wide examination dating back to 2015, the average compensation payment to those who lost their family home was €194,000. Mr Burgess suggested that the 99 families who lost their home were now “hugely” in the money as a result of the “massive” compensation offered under the tracker examination.

Source: The Irish Times July 17, 2019 16:41 UTC