The Central Bank was warned six years ago that banks like Permanent TSB were trying to take customers off tracker mortgages.

Today's Irish Independent says the then-Financial Services Ombudsman wrote to the Central Bank in 2009 calling for a probe across all banks.

Action has only recently been taken and in the meantime it's claimed that the lender's failures were a key factor in 22 repossessions.

PTSB has also been ordered to pay out millions of euro in a major compensation deal.

Personal Finance Editor with the Irish Independent Charlie Weston explains why the banks are so keen to take people off tracker mortgages: