On Monday night (3rd November 2025), RTÉ aired the first part of their documentary series Trackers: The People Vs The Banks. It is a positive development that this scandal is once again being given national attention as its impact continues for many people.
The documentary has so far focused on giving a voice to individuals and families who were affected early on in the saga and before the Central Bank of Ireland launched its Tracker Mortgage Examination Redress programme.
Anthony Joyce & Co. acted for approximately 200 sets of couples and individuals among those affected in securing additional compensation, largely through issuing Court proceedings.
We have seen the effects that this scandal has had on people’s lives: their health, relationships, their families and careers all having been upended due to overcharging on their mortgage accounts at a point in time in which most people were struggling already following the financial crash.
We have seen Clients who were obliged to emigrate, some who were forced to go bankrupt and start again and some who still struggle to recover even to this day.
We have seen Clients who lost properties and in the most extreme situations, clients who ultimately lost their family home.
We are glad therefore to see some of those affected given a voice on RTÉ to tell their stories.
While we wait for the second part of the series, we hope that more focus will turn towards the decisions of the individuals in the Banks and the circumstances in late 2008 as a decision was apparently made to disentitle their customers from their tracker interest rates.
The fact that all Banks in the State would be caught in the scandal to some degree shows this decision was no coincidence.
It became clear in the course of the 2010s that the Banks had each taken different and varyingly elaborate routes to ensure their customers would not return to their original tracker rate – or to simply change the rate and hope that customers wouldn’t notice.
From our experience, the banks, while appearing outwardly apologetic, continued to obfuscate, delay and use their powers to limit their own potential costs. They deliberately prolonged the impacts for many people.
The fact that so many needed legal representation or the help of financial advisors like Padraic Kissane who features in the documentary shows that the initial compensation offered was far from appropriate and the banks were not operating in good faith from the outset.
We are still working with clients to help disentangle the mess created by the Banks as a result of the Tracker Scandal which is still a reality for many people approximately 17 years on since the first moves were made by the Banks to prioritise their balance sheets over the rights of their customers.
In fact, we are now seeing a similar trend in relation to customers whose loans were classified as ‘non-performing’ for missing as little as one payment and were then sold off to ‘vulture funds’.
We believe that these entities are charging excessive and unfair interest rates to the most vulnerable customers and continuing the legacy of ‘sharp practice’ by Banks and other regulated financial institutions in Ireland.
At Anthony Joyce & Co. Solicitors, we continue to represent clients affected by the Tracker Mortgage Scandal and by the sale of loans to vulture funds. If you believe you were overcharged or unfairly treated by your lender, our experienced team can help you understand your rights and explore your options.
Contact us today to arrange a confidential consultation and take the next step toward redress.
