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Hi, our mortgage insurance policy with a third party still has KBC as assignee, we cannot get them off the policy. KBC say its BOI who needs to send Deed of release, insurance company say they require from KBC, BOI say they will become assignee soon but asked us for documentation, what happens...

Hi First request all your documentation from the Bank and review what returns. From that, you can see when exactly the application was made and proceed from there.

KBC started recording 2010

Thanks Brendan

I missed the call unfortunately, was Pearse Doherty more specific or was he talking about all Banks? For example, do you think it includes the KBC customers who started on fixed reverting to Prevailing Variable Rate?

It was the Banks who prolonged this sorry saga, firstly with denial of the issue, then delay and procrastination on the various cohorts and it still goes on.

I read this thread, thought it was a joke, you couldn't make this stuff up. When the FSPO start finding in our favor and roll out to others in these cohorts we'll see what he has to say then. No mention of the heavies doing their bidding at evictions either I see.

Hi Gavin77, they told me they only commenced recording in 2010 so pre that date no recordings will be available.

Time limits for complaints to Ombudsman: Financial Services and Pensions Ombudsman Act 2017 51. (1) A complaint in relation to conduct referred to in section 44 (1)(a) that does not relate to a long-term financial service shall be made to the Ombudsman not later than 6 years from the date of...

https://web.archive.org/web/20071103130544/http://www.iibbank.ie/Homeloans/rates.asp?paraID=32 https://web.archive.org/web/20070210031637/http://www.iibbank.ie/Homeloans/rates.asp?paraID=32

Thanks Prudent1 I think your search does show when IIB started to use SVR in the Home Loans Mortgage Rates advertising/explanation information on their website. Pre July 3rd 2006 the rate was described as Variable, then update on July 3rd 2006 to SVR. As we have said all along, no mention of SVR...

Thanks Peemac, this would be more evidence that they should have defined exactly what the roll off rate was for fixed rate customers in their mortgage contracts, Lenders prevailing variable rate could be anything. Also wonder why did they not publish their tracker rate only the 12month Discount...

I also have a letter being put onto SVR in 2007 at end of fixed rate however SVR is not in contract or handbook so according to framework document this should be in scope, also strangely the bank seems to have lost their copy of that letter

According to the Central Bank Framework for Conducting the Tracker Mortgage Examination 2015 document, the Banks were supposed to adhere to the following test criteria: Section 3.6.1 In the course of the Examination, and in the context of the transparency of the documentation provided to...

Hi Peemac, agree they had the rate however they have told me that the term Standard Varaible Rate was only introduced to loan offer documentation in 2013.

@NicOir If you had taken out your mortgage after Nov 2006 to early 2008 the flyer would have given you the option of a tracker and you would now be deemed impacted, check your mortgage handbook, loan offer documentation and see what should have happened at the end of the initial fixed rate

Correct Brendan, The handbook you refer to came into play early 2007 where they say fixed, variable or tracker: the choice is yours. The earlier handbook says at end of fixed you will move to variable or fixed but it also clearly states they have 3 rates, fixed, variable and tracker. In...

Good news JohnMc, hope you get your refund soon, do you know what cohort you are in?

no have not heard back yet, my complaint concerns a few points also, · Prevailing versus SVR · SVR not documented anywhere in contract, loan offer, handbook etc. · Flyer · Handbook · Data missing · No phone transcripts and subsequent notes interpretation...

I rolled from fixed end of 2007 and complained that I was not offered tracker as per 2007 handbook, they responded: We would note that the Handbook that you refer to was introduced by the Bank in May 2007 and was not the handbook provided to you when your loan offer issued in November 2005. My...