2 Mortgage switches - KBC requirements

GG5583

Registered User
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Hi All,

I am in the process of completing two mortgage switches, the first with BoI the second with KBC.

I have just received AIP from KBC, and there is 5 conditions listed, 4 of which are straightforward. I have a concern about 1 of them.

It states that my solicitor must give an undertaking to "redeem all amounts " under my current mortgage account - the specific AIB account number is listed.

Obviously when i go to drawdown the KBC mortgage, this account will have been closed and my mortgage will be with BOI.

Has anyone who has completed multiple switches had any issue with this?

any insight would be appreciated.
 
My advice is to say nothing and just get your solicitor to redeem the mortgage. If KBC ask any questions just say you moved to AIB and now to them (KBC) they shouldn't care because all they want to do is lend the money to you because you have meet all their criteria. They all want to reach their lending targets.
 
When I did my 3rd switch in a row, such was to Ulster, the Ulster approval document had this same info written on it also, referring to my original AIB mortgage number. I had switched twice in the interim since that number. Nothing ever came of it, as in it was never mentioned during the Ulster drawdown.
 
When I did my 3rd switch in a row, such was to Ulster, the Ulster approval document had this same info written on it also, referring to my original AIB mortgage number. I had switched twice in the interim since that number. Nothing ever came of it, as in it was never mentioned during the Ulster drawdown.
Well done Username123 on the 3 switches, yes i would just plough on and see what happens. I'd be surprised if anything or anyone notices and even if they do nothing will happen. What the bank might do is resend the documents with the actual mortgage details you are switching from.
 
Can't see any issue with the bank. They just transfer the money into the solicitors account. The solicitor undertakes to pay off the existing mortgage. If your solicitor is happy to proceed then there shouldn't be an issue. Though might be no harm to check with the solicitor
 
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