KBC KBC basing cohorts on Application date rather than Draw-down dates

mccoypat94

Frequent Poster
Messages
119
I got confirmation this morning that I am not included in the 06-08 PDH Cohort as they are basing it on application date rather than draw down date.
Im livid at this as we changed to a fixed , after being advised by the broker in January 07 that we would roll off to a tracker, I presume referencing the flyer
Any views? Im I done or should I fight this...
 

peemac

Frequent Poster
Messages
660
I can't see that as washing with Central Bank and will probably be subject to a challenge.

Scenario

Broker's client sends in application 20th Oct 2006

Client gets approval 30th Oct 2006

Broker gets confirmation on Nov 6th 2006 that all fixed rates will roll to tracker.

Client draws down Jan 2007.


It more than likely says "rate applied will be the rate at time of drawdown" on the offer letter - its agruable that the rate applying at drawdown was the fixed rate applicable on that day with the rollover as per the applicable rollover rate applicable on that day too - the tracker rate.

Maybe find if the fixed rate at time f application was same as fixed rate at drawdown and ask why such a rule applies to one sentence and not another in the same document?

This will run and it should be brought to attention of the CB
 

mccoypat94

Frequent Poster
Messages
119
Ye
Maybe find if the fixed rate at time f application was same as fixed rate at drawdown and ask why such a rule applies to one sentence and not another in the same document?
You are 100% correct. It wasnt and they state that, they want it every way.
 

DamC82

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Messages
155
Same as Pat. Deemed not impacted because I applied summer 2006 pre the flyer even though draw down was Feb 07. Gutted
 

Jazzer1

Frequent Poster
Messages
143
Same as Pat. Deemed not impacted because I applied summer 2006 pre the flyer even though draw down was Feb 07. Gutted
I know its hard when you get a reply like that but this is far from over in respect of Draw down dates and application dates......if it's not one thing with them it's another. I fitted the time frame and the criteria as I applied in Jan 08 and they told me bull about I had to revert back to S.V.R. write your complaint letter to kbc and push for their reply and if your not happy then go the Ombudsman.The more similar cases he gets the better.
 

Daisy duke

Registered User
Messages
47
This looks bad for me too. Applied Oct 06, drew down on 3yr fixed Dec 06, with roll off to lenders prevailing rate. Had “considered impacted” letter early Dec and nothing since.
 

DamC82

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Messages
155
This looks bad for me too. Applied Oct 06, drew down on 3yr fixed Dec 06, with roll off to lenders prevailing rate. Had “considered impacted” letter early Dec and nothing since.
This looks bad for me too. Applied Oct 06, drew down on 3yr fixed Dec 06, with roll off to lenders prevailing rate. Had “considered impacted” letter early Dec and nothing since.
No I'd say you're ok. If you have a an impacted letter you are in a cohort and will be redressed. how on the other hand you are deemed in , and I out , remains a mystery as you also 'applied' pre Nov 06...
 

Daisy duke

Registered User
Messages
47
Sorry should clarify letter says my account is being considered as part of the review. Wonder on what basis it is being considered if this only applies to applicants post Nov 06, surely that would have being a simple check before sending the letter out and raising hopes....
 

DamC82

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155
Sorry should clarify letter says my account is being considered as part of the review. Wonder on what basis it is being considered if this only applies to applicants post Nov 06, surely that would have being a simple check before sending the letter out and raising hopes....
I'd imagine If so you're in a similar position to me
 

Daisy duke

Registered User
Messages
47
I phoned this morning for an update to be told that I am not deemed impacted. I asked under what circumstances I was considered to be part of the review and why I am now no longer impacted, of course they are unable to answer my query....
 

DamC82

Frequent Poster
Messages
155
I phoned this morning for an update to be told that I am not deemed impacted. I asked under what circumstances I was considered to be part of the review and why I am now no longer impacted, of course they are unable to answer my query....
Hi @Daisy duke , you are similar to me I believe as you 'applied' in October 2006. I was July 2006. We are both ruled out as is @mccoypat94 because I believe KBC have decided that the broker communication had no effect on our decision to fix.
I disagree with this.
 
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Daisy duke

Registered User
Messages
47
Hi @DamC82 agreed that seems to be the basis for being ruled out although they could not confirm that to me on the phone this morning. Also if that was the case why was my account ever considered as part of the review, surely they would have eliminated those accounts who applied before Nov 06?
 

Daisy duke

Registered User
Messages
47
@Clara16 , I received a letter in early December stating my account was being considered as part of the review. Today they confirmed I am no longer considered part of the review although they cannot tell me why. I can only assume that I am similar to others on here and they change the goal posts as they see fit. They
 

DamC82

Frequent Poster
Messages
155
Hi @DamC82 agreed that seems to be the basis for being ruled out although they could not confirm that to me on the phone this morning. Also if that was the case why was my account ever considered as part of the review, surely they would have eliminated those accounts who applied before Nov 06?
When exactly did you draw down @Daisy duke ?
 

Brendan Burgess

Founder
Messages
38,509
Have you guys got together to discuss a joint approach on this?

KBC is in front of the Oireachtas Finance Committee tomorrow.

One of you should send a briefing note on the issue and some questions for Michael McGrath and Pearse Doherty to ask.

Brendan
 

Daisy duke

Registered User
Messages
47
@Brendan Burgess. Thanks for the reply. No we haven’t but I do agree that as our cases are similar we should get our heads together on this. @DamC82, @mccoypat94 you up for further discussion on this?

In regards to contacting Michael McGrath or Pearce Doherty do you have advice on how to make contact with those?

Appreciate any assistance you can provide.
 

Jazzer1

Frequent Poster
Messages
143
Have you guys got together to discuss a joint approach on this?

KBC is in front of the Oireachtas Finance Committee tomorrow.

One of you should send a briefing note on the issue and some questions for Michael McGrath and Pearse Doherty to ask.

Brendan
You can contact Michael mcgrath through Facebook I am just after sending him a message over kbc not formally clarifying accounts not deemed impacted also how similar accounts getting different outcomes.
 

Ice Berg

Registered User
Messages
23
If u go on web House of Oireachtas go to directory of members. You will get a list in alpha order of all TDS e mail addresss.
 
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