Westie 32 can I ask you, in the breakdown of the figures month by month, the last month before we got our redress in the panels "what we should have asked you to pay ours was actually 100 cheaper than what we had to pay the following month. I asked them back then how come the previous month you say it should have been 100 cheaper than you want now.... how has as it increased? They couldn't really give me a clear answer. They said what we are asking you to pay now is correct. But I never understood how it goes down every month until that month it goes up? I was just wondering if that's where you identified the overcharge? As I never got a clear answer myself now I'm curious.
Hi all, I called them Friday they explained they put a lump sum off the balance instead of refunding it back to us "in error" . Okay so I had the same issue with the payments increasing from what we should have paid and our mortgage payment has increased because our balance would have been less this refunded amount. As they are refunding the money to us, the payments go up because the balance has gone up. (I think I am still not 100%) I hope I have explained that well. I do think we will get advice as its just a joke at this stage. I truly believe they would not have spotted this if I didn't send in the appeal. Apparently "they are going through the figures with a fine tooth comb" bit late now!
They put a lump off our balance also. Is that in the "adjustment of your mortgage balance" so that's why I was surprised the monthly amount went up from that month onwards considering there was no arrears or anything like that.
Can I ask was it that they put too much off the mortgage balance that or that they weren't to put anything off it? Thanks westie32 .
My thinking is that if they put the lump off our mortgage that the mortgage shouldn't have gone up approx 100 per month, to what they say they should have asked for the previous month.
Thanks westie32 I hope I'm not confusing you further!!
Yes Gavin77 they put too much off the mortgage balance. Last year our mortgage came down €437 per month after they made the balance adjustment. So I dont know why yours didnt come down. This time round because they put too much off our balance they have had to refund us. Technically we were paying the right amount (say if there was no error) but because of the error we were overpaying but now its the right amount as the adjustment has been made. Hope that makes sense.
Thanks westie32, our mortgage came down by about 400, once the right interest was applied. But in the package that outlines all the months of incorrect payments. In the column where it states what we should have asked for, it was like 920 and yet the month straight after that it was 1050. Even though every month up to that in the column it was going slightly down. And I thought with the 11,000 going off the capital it was to keep it as it was described.
Thanks for all your information while it may all be right the fact that they could never clarify for me over the phone, I will write in. I just want closure on this part before the appeals chapter begins.
Hi can I just double check something... in the sheet breakdown of what you should have paid, what you paid and the difference, in the panel what you should have paid in the last month before redress was offered, is that amount less than the amount you actually paid in your next payment when you were on the proper rate. Because the whole lot of the redress wasnt put off the capital instead just a portion?
Is anyone any nearer their date with appeals? We have just commenced communication with the panel, and I imagine it's going to be a long tough road. Paperwork back and forward with more to come before we'll know if we will get an oral hearing. Has anyone had an oral hearing yet?
It was February when we submitted appeal, and requested oral hearing, in May we recieved acknowledgement, and then the end of may a response from kbc. We then had to respond to that, which I have a feeling might go on for a while. Then hopefully we will hear if we are successful in having an oral hearing. I dont know of any that have had oral hearing with kbc as yet.
We submitted appeal in October and still no decision. Did not seek oral hearing. We submitted last of documentation requested in March after months of back and forth and said we had nothing more to add. They have been dragging their heels on it since then saying it was delayed over questions they had for kbc on how interest only periods were treated in redress. Got a letter 2 weeks ago saying they are satisfied now with Kbc response on this and consideration on appeals will 'resume' over coming weeks. Looks like you could have a long haul if ours is anything to go by. There doesn't appear to be any time frame for issuing a decision.