Bank of Ireland Bank of Ireland: ongoing tracker issues with mortgages transferred from KBC

[paddyjamesonpower]

Worth a look for anyone following the seemingly endless tracker mortgage saga. Concerns about KBC mortgages transferred to Bank of Ireland have been raised in the Dail including incorrect balances and redemption figures as well as continuing harm and the loss of property.

Cian O’Callaghan of the Soc Dems finance spokesperson spoke about it on 29 September. It raises questions about whether tracker errors carried over when BOI took on the loans and what checks were made. Finance Minister Simon Harris said he’d ask the Central Bank to look into the issues and seek assurances. Wonder how many ex KBC customers might be involved? https://www.oireachtas.ie/ga/debates/question/2026-09-29/116/

 

[CorkHome2022]

I would have thought after the KBC enforcement action that they would have cleaned up everything , BOI should have been extra careful when taking them on .

 

[Brendan Burgess]

From that Dáil question by Cian O'Callaghan

The family took out a tracker mortgage with KBC. For years, the bank charged them the wrong rate, which KBC eventually admitted to. When KBC left the Irish market in 2023, the family's mortgage was transferred to Bank of Ireland. The overcharging did not stop. It carried on under Bank of Ireland. The customer wrote to Bank of Ireland's CEO and asked to meet, but the bank refused. Instead, the arrears letters kept coming, as did the repossession warnings. In the end, the customer was being overcharged to the point where he could afford the mortgage. He was forced to sell his family home.

I would be very wary of any such case raised by a politician.

The banks went through everything a few times.

I have not yet seen case where anyone lost their home because they lost their tracker.

They lost their home because they were paying little or nothing. In those cases, had the interest rate been zero, they would have lost their home.

I would say it's the same in this case.

Let's say that KBC overlooked a case. This borrower would have been on to them. It is very likely that KBC rejected his complaint.
He has raised it with BoI. They would have looked at it again.
And they would have looked at it a third time before taking legal action.