The Financial Services Ombudsman has found in favour of a financial institution which is charging a young couple €44,000 in fees to change from a fixed to a variable rate mortgage.
But Joe Meade said his office was now investigating 150 complaints, covering all mortgage lenders, and each case would be investigated individually.
A spokesman for the Department of Finance said last night that the initial findings by the Financial Regulator indicated that financial institutions were applying the correct formulae. But he said the regulator was now looking at whether additional costs were being charged by lenders, and a final report is due shortly.
Fine Gael says it is time for the Government to intervene and to cap breakage fees in the forthcoming legislation on NAMA.
