The Central Bank has announced it is to undertake a "broader examination" of tracker mortgage-related issues at lenders.
The review will cover issues surrounding transparency of communications with and contractual rights of tracker mortgage borrowers.
In a statement the Central Bank said: "Our consumer protection framework requires all lenders to act in their consumers’ best interests and, in particular, requires lenders to disclose material information to consumers to enable them to make informed decisions.
"For those borrowers who are in mortgage arrears, the Code of Conduct on Mortgage Arrears restricts lenders from requiring a borrower to change to another mortgage rate type, other than in instances where no other option is appropriate or sustainable."
In the past five years it has identified and pursued a number of lender-specific issues in relation to transparency for borrowers who opted to switch from tracker rates or who had the right to revert to a tracker rate at the end of a fixed rate period.
Earlier this week, Permanent TSB said it is to establish a Mortgage Product Review Group to assess its own mortgage product suite and establish if there were instances where the contractual terms and conditions attached to mortgage accounts have not been honoured by the bank.
This followed the identification in July of approximately 1,100 mortgage customers at the bank who, following an investigation by the Central Bank, were found to have lost a contractual right to a tracker rate mortgage.
This as well as other Central Bank investigations on the issue have resulted in redress and compensation schemes for borrowers who were negatively impacted by the practices of financial institutions.
Despite this the Bank said: "We remain concerned that there may be other tracker-related issues which could be impacting on consumers across the system.
"In this regard, we are currently engaging closely with a number of lenders on points of concern relating to their ability to demonstrate that they have acted in the best interests of their tracker mortgage customers, with a number of lenders currently undertaking their own internal reviews."
The Central Bank said it has also engaged with consumer groups as well as the Financial Services Ombudsman on the matter.
Lenders have been informed of the Bank’s intention to conduct the review.
In a statement this evening, the Irish Mortgage Holders Organisation welcomed the Central Bank's announcement.
It said it had seen serious issues and believed that the Central Bank was best placed to protect consumers’ interests.