Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Perhaps the witnesses will include the figure as part of its reply to the list of issues on which it is to get back to the committee. I have a question on the tracker examination and the approximately 1,000 customers of the 3,000 whom we regard as switchers. They have not got a huge amount of attention so far in relation to any of the banks and there has been little public debate on what is an important issue. These are customers whose mortgage has either been redeemed in full and their account closed or who switched their mortgage to another bank. The bank cannot do the same for the latter cohort as it has done for its existing customers, for whom the bank can stop the harm by putting them back on the correct rate. A person who switched to AIB may be paying a variable rate of 3.5% but if they were still with Ulster Bank they would be entitled to a tracker rate of 1%. How is the bank going to deal with that issue? Is the bank going to take them back as customers on a tracker rate?