Why get an audit done:

Since 2010, the Central Bank has been looking into tracker-related issues with various lenders. Following an industry-wide review carried out by the Central Bank in 2015, it was decided to formally implement the Tracker Mortgage Examination. The review revealed that all the main banks, Permanent TSB, Bank of Ireland, AIB, EBS, Ulster Bank, and KBC had or were overcharging customers on their mortgages.

Everyone in Ireland has heard about the Tracker mortgage scandal. What does that mean?

The most obvious issue for people was that the bank asked the customer to change to a fixed rate at sometime during the mortgage, even though the loan offer letter stated that a variable rate tracking ECB REPO applied of around 1.2% markup. After coming out of the fixed rate, many customers weren’t allowed or offered the tracker rate back. This would then result in massive overcharging ranging from 25k to 100k depending on the amount borrowed and the number of years the replacing variable rate (usually 5% +) would have been charged.

https://pmjaudits.eu/