Irish central bank to end some mortgage investigations this year

DUBLIN, Feb 4 (Reuters) - Ireland (Other OTC: IRLD - news) 's central bank expects to conclude some investigations of lenders who overcharged customers by the end of the year, as they identified another 1,400 mortgage holders due compensation, the regulator said on Monday.

The industry-wide investigation concerns customers who should have been given the option of a cheaper "tracker" mortgage that follows the low European Central Bank rate or kept on a better rate.

The Central Bank said banks had paid 647 million euros in redress by the end of 2018 to compensate the affected customers, who will number 39,800 once those identified since the end of August are included.

The bank added that 97 percent of affected customers who were already identified and verified had received offers of redress and compensation. (Reporting by Padraic Halpin)