KBC KBC told brokers" all fixed rate loans will roll onto trackers on expiry"

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I rang them and I got the usual response about it been a long process. They said if I don't hear anything by the end of February to contact them.
 
Got a similar reply myself today, the KBC unit told me as previously mentioned in this thread that the first wave of letters were issued last Friday - I'd love to hear if anyone on here has actually received a letter of last Friday from KBC - So far ive heard of not one. They also say the review will carry on for most of this year
 
My account is in included in the review, but im not hopeful of a positive outcome

If I take up the current LTV and current account reduced rate offer from KBC am I at the risk of losing any potential compensation or tracker?

Im paying 4.35 & can get down to 2.9 with the LTV <80% and the current account disc.
 
I would get that in writing from them if it would or would not affect your case with regard the tracker review and make a decision on that.
 
Hi DamC82, why arent you hopeful , as much chance as the rest of us, i think previous posts advised such an action wouldnt affect pending tracker cases . But yes get it in writing !
Who are these people that got letters friday, this carry on of "first phase" of letters is driving me mad , they have a tiny number to trawl through should be done and dusted , but are behaving like aib and ulsterbank who have multiples to get through ?! Gonna ring them again 2moro .
 
Best of luck!
I dont have much hope because I believe I signed away the right to a tracker when I signed the initial fixed. Bare in mind I never actually had a tracker.
Many fighting a case had , and lost theirs..
 
So here we are at the end of another month for which KBC said they would provide an update. Has anyone received anything yet?
 
I got an update from kbc last week to the effect that the bank is engaging with the Central bank regarding the outcomes from phase 2 of the cbi tracker review. I suspect there is some conflict between the cbi and kbc regarding the outcomes arrived at by kbc. The delay is ridiculous considering the small number of relevant kbc customers. I am tempted to send in a data information request to the bank with a view to getting insight into the status of our review.
 
Spoke to them again today as another month has passed. KBC confirmed they will divulge no information about the current scenario and they are still engaging with the CBI. So again - there is no update. They did say based on the CBI announcement in December that it will be all done by mid 2017.
 
Yes had similar conversation on Friday, sent me out a letter confirming what was said on the phone , in phase II etc , checked to see if there was any note against my account , there wasnt expect everyone to be contacted before the summer , cannot understand how their comparatively small loan book is behind ulster bank and aib for every milestone . My own scenario had tracker fixed in 2007 after being bombarded with letters , and form Said revert to SVR , rest is history , how many scenarios can there be in 2000 cases ? 5 piles of cases each getting same verdict .
 
Still not a word of anyone having received a letter from KBC with a resolution. Very frustrating crowd to deal with and I can only imagine Central bank must be having the same difficulties with KBC. I fixed in 2007 and was on Tracker up until then when I signed IIB MFA with the revert to SVR line.Shameful carry on
 
Got a letter from Kbc yesterday, in response to a query . Basically said yes you're in the review, but no we have no timeline so don't waste your time asking.
Seems outrageous that this crowd don't seem to have to answer to any timelines the central bank put down . The central bank really seem to be a pushover , it was originally due to conclude last September, they can continue to kick the can down the road with no concequences?
 
Can someone tell me the difference between

Lenders prevailing variable rate
And
prevailing Home Loan Variable Rate

both used in IIBs (Kbc) loan offer documents
 
There is no way that a repossession order should be granted where the account comes under the Central Bank tracker review and I'm aware of people before the courts in exactly that position.
 
So if a borrower has made negligible payments for years they get a pass simply because their loan is included in the tracker review? That makes no sense to me.

There are other mechanisms in place to deal with these issues.
 
So if a borrower has made negligible payments for years they get a pass simply because their loan is included in the tracker review? That makes no sense to me.

A "negligible" payment might keep someone in their house . Interest only payments on a €350k loan at a tracker rate of 1% would be €292 per month. IO repayments on the same loan at 4.25% would be €1240.
 
A "negligible" payment might keep someone in their house . Interest only payments on a €350k loan at a tracker rate of 1% would be €292 per month. IO repayments on the same loan at 4.25% would be €1240.

Sorry Demoivre but you suggested that a defaulting borrower should be completely exempted from repossession proceedings solely because their mortgage was included in a tracker review.

You didn't suggest that your view was in any way dependent on whether or not the defaulting borrower was engaging with their lender, making meaningful repayments, etc.
 
Sorry Demoivre but you suggested that a defaulting borrower should be completely exempted from repossession proceedings solely because their mortgage was included in a tracker review.

I said a repossession order should not be granted pending the results of the review, and I stand by that. Let the courts adjourn the proceedings until this review is completed, which should have been by last September. I don't think it's a good idea to pay nothing, if you want to hang on to your home, but I know of one case where the borrower stopped paying altogether because he felt he hadn't a hope of rescuing the situation when his rate was 4.5% ! It may well turn out to be case that he should have been on 1% which changes the picture completely.
 
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