KBC I got tracker redress from KBC

In one final effort to clarify these issues to help people who have not got back their trackers, could I ask those of you have been redressed to document your case under the following headings: Please pick a cohort if you know which one you are in.

Started on a fixed rate cohort
1) Family home or Buy to Let
2) Applied through broker or direct application to KBC

Chronology e.g.
Date of application for mortgage: January 2007
Date of drawdown: June 2007
Started on a fixed rate for two years
On expiry of fixed rate, rolled over onto SVR
Feb 2018 - got letter deeming me impacted

Started on a tracker rate cohort

1) Family home or Buy to Let - Family home
2) Applied through broker or direct application to KBC - Direct to KBC

Chronology e.g.
Date of application for mortgage: January 2007
Date of drawdown: June 2007
Started on a tracker rate of ECB +1%
Jan 2008 - Fixed for two years
Jan 2010 - Rolled off fixed rate to SVR
Feb 2018 - got letter deeming me impacted

Didn't start on a tracker, but switched to a tracker and subsequently lost it

I drew down in 2005 through a broker. Started on fixed rate for 1 year. After year one I put one third on tracker and two thirds fixed for 2 years (march 2006-2008). At the end of the two years the whole loan automatically went to variable rate so I fixed again as the rate was lower. I wasn't offered a tracker. I have been redressed and returned to tracker for the one third that was on a tracker rate. The other two thirds has no entitlement to tracker or redress according to KBC. File is with P Kissane now.

For the "started on a fixed rate cohort" , it would be helpful to know also
1. what the loan offers said would happen at end of fixed rate period
2. Definition of the rate

Dealt direct with IIB Homeloans (former name of KBC)
Letter of offer Sept 2005, drew down Feb 2006
Started on a tracker or as they called it - "a variable rate that will not exceed 0.95% above the ecb refi rate for the life of the loan"

Fixed a few months after for a period of 3 years. Fixed rate document (which was not asked for but sent automatically with notification of rate rise) stated that at the end of the period I would revert to the banks homeloan variable rate.

Dec 2017 Got letter saying we were part of examination.
Jan 2018 got latter saying we were impacted
March 2018 got refund and compensation.

Dealt with IIB Homeloans (KBC) direct
Bought our house in May 2007
Fixed rate for 3 years.
After the 3 years we rolled onto a variable which just happened, we were given no choice.
Suspicious we were part of tracker scandal September 2017, told we were not
Got a letter confirming we were January 2018. Payout in March 2018, 7 k compensation. Put immediately onto a tracker for remaining mortgage. After 11 months we appealed through a solicitor due to distress (numerous complaints were made by us over the years as to KBC being unreasonable. Currently claiming for more compensation and should hear in a few weeks.

Newmaks said:

7 k compensation

Click to expand...

Was this on top of the interest overpaid over 8 years ?

Newmaks said:

Dealt with IIB Homeloans (KBC) direct
Bought our house in May 2007
Fixed rate for 3 years.
After the 3 years we rolled onto a variable which just happened, we were given no choice.
Suspicious we were part of tracker scandal September 2017, told we were not
Got a letter confirming we were January 2018.

Click to expand...

Can you give more details ? Why exactly were you told you weren't impacted in Sep 2017. As alluded to by Trustnobody above what were you told would happen after the fixed rate period? If you have the original contract it would be very useful if you can provide the precise wording as to what you were told would happen after the fixed rate period .

I'd like to more also. How were you impacted if you dealt direct or moreover how was your loan offer worded.?

Would like help please to clarify my cohort.
My reason to clarify is that it is impacting my appeal.

PDH
Broker application 1st Feb 2008
3 yr fixed & roll off onto tracker as recommended by broker
Draw down delayed as agreed by Broker
Loan offer issued 9th Apr but amended by broker week later as not the 3yr rate
Drew down 6th May 08
End of 3 yr fixed tracker not quoted, complained used booklet, told not legally binding.

Other key dates
8th Mar 18 PK advised JFOC that these 3 or more fixed loans were not yet included in examination & had not been stress tested in order to gain new business

12th Mar 18 advised by Bank NOT IMPACTED but sale of home on hold due to examination

27th Apr 18 let advising impacted
1st May 18 redress received

My opinion was Broker cohort.

Why does it matter? My appeal.... what damage was caused in the interim.
Twice we signed surrender of ownership papers.

The Bank maintain we were not in any cohort, tracker was only given out of hardship.
This repeated many times including by Directors. I feel I'm being degraded yet again.

Any clarification would be much appreciated.

Sorry can be of the no help regards cohorts, but if the bank were giving trackers back because of hardship they'd have done it long ago before the kicking and screaming and ombudsman saga's. Sounds like they're trying to paint themselves in a nice picture. Hopefully someone may be able to clear it up for you.

If they were/are giving back trackers due to hardship this is potentially excellent news for many ....widens it right out.... there'll be a long queue though.

However it sounds more like they are just up to their usual tricks of pedalling half-truths, obfuscation and delay tactics..... all in an effort to minimise their exposure to larger compensation and to unashamedly wriggle out of their responsibilities. New year, same old KBC !