The Labour Party is calling for an independent investigation to be carried out for customers affected by the tracker mortgage scandal in Ireland.

Around 33,700 mortgage holders were impacted, a jump of nearly 14,000 in the past three months, according to the Central Bank.

Spokesperson on Finance, Joan Burton TD, said the behaviour by the banks in question has caused real damage to the lives of the affected customers.

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She said: "That nearly 34,000 borrowers have been caught up in this scandal is absolutely outrageous, and there are reports that this figure may actually rise further in the New Year.

"That customers should be treated this way by the banks, especially in light of the financial support they received from the taxpayer in recent years, is shocking.

"While I am glad to hear that many of the impacted customers have been compensated by now, the Irish public must be assured that this type of thing won't be allowed to happen again.

"That Irish banks have now paid out nearly €300 million highlights how wide-spread and deep this scandal is, with a total of €900 million set aside by five lenders to cover redress, compensation and costs."

(CD/MH)