@Frank with KBC the process is quite simple. You arrange for a valuer (on their list below) to value your property. You have to pay them for this and should be around 127-130 euro. Then you fill in the linked form and post it to KBC, with your selection choice for rate -fixed or variable.
[broken link removed]
https://www.kbc.ie/our-products/mortgages/existing-customers/valuers
It takes about 2 weeks to process it (roughly)
Without knowing the term of your mortgage, you stand to roughly save 90 euro a month (1080 a year) tax free by going through the process. If you also elect to have your current account with KBC - even if the money is just bouncing through your account, you would save around 100 euro a month - 1200 a year.
You really shouldn't be leaving that kind of money on the table.
Absolutely agree here. There is no reason you should be giving KBC between 1080-1200 euro a year in extra interest at this stage.
I know this is a busy time of the year but you really shouldn't be paying a mortgage rate of 4.25% with an LTV of less than 50%.
On a totally separate note, it is your lack of movement here that rewards KBC for not automatically applying cuts to variable rate customers. While we can discuss the philosophy around the practice, if enough customers switched/applied for the interest rate cuts immediately, it would turn the balance on KBC and make it more cost beneficial to apply cuts automatically. So in my view, you doing something here not only helps your pocket, but may help other customers in the future also.
I have to admit, I do find it a bit disheartening on behalf of all the people who push for lower mortgage rates that those who can avail of them don't do so. The sad news here is the KBC offer came into effect on 1st December 2016, so you have already given KBC a present of 1170 euro more than you had to in this period. I don't know anyone that would not like an extra 1000 euro at Christmas time...