Individual compensation payments for customers impacted by the tracker mortgage overcharging issue passed the €100,000 mark in dozens of cases and in one instance a compensation payment of close to half a million euro was made.
Documentation provided by Irish banks to the Oireachtas Finance Committee and seen by RTÉ News, makes clear the severity of the financial impact on individual customers who were denied, wrongly, access to tracker mortgage rates by the banks and overcharged as a result.
The information was provided by AIB, Ulster Bank and Bank of Ireland on foot of follow-up questions from committee members after its public hearings.
Bank of Ireland has identified one case of a buy-to-let mortgage in which a compensation payment of €481,000 was made including €416,000 in interest overcharged.
The highest payout by the bank in relation to a loan to an owner-occupier was €393,000. In that case the total interest overcharged was €339,000.
During the Tracker Mortgage Examination mandated by the Central Bank, Bank of Ireland identified 142 mortgage accounts where compensation and redress payments of over €100,000 were due.
A response to the committee from Ulster Bank shows 11 of its customers received compensation and redress payments of over €100,000 each, to a total of €2.05 million.
Documents provided to the Finance Committee by AIB, in which it is responding to a question around the 14 of its overcharged customers whose properties were repossessed show the average payout was €144,000.
In addition those customers had outstanding mortgage debts following the repossessions to an average value of €16,000 written off.