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

steely1

Registered User
Messages
29
Just a question to all out there . Is there anybody , or do you know of anybody( with KBC ) who were told they are not part of either cohort and not considered impacted and this decision was appealed and then reversed and put onto a tracker and received or are due redress ?
 

unfortunate

Frequent Poster
Messages
128
Anyone gotten anything further from KBC. I got not impacted letter with reasons but have questioned some things again. Such as.......SVR is prevailing variable rate full stop, and this years created letter is copy and pasted from my file?? Why not send original. Also "phone records say" but no copy of said recorded transcripts. Pick and choose replies?? Really annoying stuff and smacks of go away little person of no consequence
 

steely1

Registered User
Messages
29
@unfortunate have you gave them an official complaint as they will keep kicking the can down the rd other wise . Once they have an official complaint they have to revert in 40 days by the FSO standards
 

mccoypat94

Frequent Poster
Messages
118
Complaint rejected by KBC, next stage FSO.... A few people have had letters this week it seems, kbc sweeping us out the door it seems
 

Tipptop2

Registered User
Messages
21
Anybody else get a final letter from KBC on this?
I got my official letter this week rejecting because i was not in the scope of Central Bank criteria ...
I believe I still have a case and next step is ask P. Kissane to argue my case...
 

no money Mo

Registered User
Messages
21
Hi, I was wondering if anyone could help or offer any advice on the following:
I had a mortgage on a buy to let with KBC that was Initially on a svr in 05. I made an application to fix for 5 years in Feb 06 but later the same month I enquired over phone if I could switch to a tracker mortgage. In March 06 I received a letter confirming that my mortgage was switched to a tracker of 1.1% for the term of the mortgage and was given my new repayment figure.
I paid the mortgage for years without paying much attention to the rate I was on. It has since transpired that kbc had put me on a fixed rate rather than a tracker and furthermore when the fixed rate expired I was put on the svr .... this is when my repayment problems started and after some time trying to negotiate a cheaper repayment, I had to relent and sell the property under the threat of receivership. It sold for 40% of what was owed, I also lost the deposit I had put into the property and the cost of fitting it out, approximately €40k in total.
I was initially told that my mortgage was in Scope and had hoped that the tracker issue would be resolved. I was sent a letter stating that I was Not affected by the tracker scandal , on receiving this letter I phoned the tracker line and asked about the letter I had from 06 confirming my tracker and the lady I spoke to said she did not have a copy of that letter but would request a copy from their data department and come back to me later that day.
She never called.
I phoned every day for a week and was told the lady in question was either out of the office or would call me back.
Yesterday I was told that the 06 tracker letter was sent in error and that I was never entitled to a tracker.

That's where I am at the moment.
Any input or advice welcome.

Kind regards
 

KBC latearrival

Registered User
Messages
7
Hi All , I would like to post this to spread the word to the great, helpful, people n here, that there is still hope for those of you who haven’t had any success yet, because totally out of the blue yesterday, I got a letter from KBC dated 27/4/18, advising me that I have “been impacted”, have applied an incorrect rate etc and that from 1/4/18 my mortgage will be put back on a tracker. TBH, this was totally unexpected, I had no contact with KBC, knew nothing about any of the latest issues re 06/08 trackers etc, until I found this, and other threads, by googling last night. I wanted to say a big thank you, as I now know that only for all the hard work, community spirit, and hard fought battles by many of you here, and people like Padraig Kissane, that my mortgage was most likely one of those disputed accounts, that KBC had to be dragged kicking and screaming into reviewing. Again, because of the great advice and support here, I was able to doublecheck and confirm for myself, based on what others had received, that the letter said I would be compensated etc.
 

peemac

Frequent Poster
Messages
630
@KBC latearrival That's very interesting that a new batch of letters have gone out as all previous redress people had initial contact from January 5th and most have now had their compensation & redress paid at this stage. (Unlike some of the other banks, at least KBC have acted fairly quickly in paying back once they have deemed you impacted). So a new batch of letters could suggest a previously unimpacted cohort are now deemed impacted - or they just found a few that got through the previous checks.

Can you give others some basic details which may help

Date of application for mortgage

Date of drawdown of mortgage

Broker or direct with KBC(IIB)
 

KBC latearrival

Registered User
Messages
7
I learnt so much from reading these threads, I hope information about my situation may help others in some way:
I know from various posts here, that I don’t have all the detailed facts as to why I was included, so will be researching what papers I have today, but what I do know is:
Remortgaged to KBC in 2007/2008 ( I will have to check dates of application etc but applied late 2007, drewdown early 2008, in the first quarter)
Part of my mortgage was tracker rate, which drewdown first, c €56100,
There was a delay with drawing down the second mortgage funds due to legal/property purchase problems, broker advised going for fixed rate for that portion, I remember discussing how tracker rates in 2008 were starting to increase, so this was hedging our bets against any future increases. That portion was c€125,000 fixed for 2 or 3 years, then rolled of to KBC SVR.
When all this tracker issues started, I did check my loan offer at the time, but as it stated rolling of the fixed rate to a variable rate, I thought I was excluded.
I will be doing more digging today.
I also have 2 other KBC BTL mortgages, taken out at the same time, I now regret ever having got involved with, it was to help an elderly relative buy an apartment to live in independently near us, but it is crucifying us financially now, as the repayments have gone up so much as the BTL rates are so high, and we help them out financially by paying the balance of the mortgages for them. Anyway I am trying to show that I am not a greedy landlord, I am grateful for what I have now got, but I am curious and very distrustful, after reading some of the your cases where you have been shot down at every turn up to FSO, only to be proved right at the last minute very reluctantly by KBC, did KBC mess up with the BTLs also by not offering a tracker rate, and would be grateful for your opinion/advice if any of you have had any success with KBC tracker redress re BTL mortgages issued around then, TBH, I can’t remember if KBC were even offering trackers rates for BTL then? Do any of you know? We opted for an interest only period for five years, again following discussions with the broker, to keep the payments affordable at the time. Again reading some similar threads here re BTL, I reckon it’s a faint hope as any BTL cases here that got included in the review had tracker rate mentioned in docs etc at some stage, I don’t have the original loan offer with the initial rate offered to us, before we opted for interest only repayments. Have seen some info on this thread, I checked the latest CBI updates etc, and I see that BTL mortgages were covered under the CBI review.
Again, I hope by sharing what little I have, about my late inclusion in the tracker review that it helps somebody, as this thread has helped my so much. I do appreciate any advice you may have re BTL.
 
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KBC latearrival

Registered User
Messages
7
Sorry peemac, am new to this posting thing, so was busy with my last posting/essay, too long I know :) and now it is telling me that I have to wait to post this reply, must be over my word limit or something. I am just so grateful and can’t believe my luck, and so conscious of how I am piggybacking on all the hard work done already by others. Happy to help and wanted to post to spread the word. Anyway back to facts:
I will have to check the application dates and get back to you.
Switched mortgages through a broker. Remortgage and additional funds borrowed.
I will check out and revert.
After reading these threads last night, I didn’t find anybody else posting recently who gots similar letter.
 

unfortunate

Frequent Poster
Messages
128
Have letter in data pack urging broker to contact me in mid 2007 when my solicitor looked for redemption figures of mortgage as it was "in their mutual interest to keep me". Tracker then discussed with him. Of course no written proof!!!! Neither were calls recorded then as told by KBC. It was dated same day they replied to solicitor.
 

KBC latearrival

Registered User
Messages
7
@KBC latearrival That's very interesting that a new batch of letters have gone out as all previous redress people had initial contact from January 5th and most have now had their compensation & redress paid at this stage. (Unlike some of the other banks, at least KBC have acted fairly quickly in paying back once they have deemed you impacted). So a new batch of letters could suggest a previously unimpacted cohort are now deemed impacted - or they just found a few that got through the previous checks.

Can you give others some basic details which may help

Date of application for mortgage

Date of drawdown of mortgage

Broker or direct with KBC(IIB)
@peemac :
Date of application: between 29/3/2008 and c 5/4/2008 ( letter from KBC/IIB confirming receipt of application, and general approval, received dated 7/4/2008 - so a few days before that allowing for processing etc)
Drawdown: 9/6/2008 - mortgage cheque with letter dated 6/6/2008 issued by IIB to Solicitor, received by Solicitor 9/6/2008.
 

Westie32

Registered User
Messages
27
I am part of Flyer 650, got my letter Jan 5th, still waiting on redress and compensation, called KBC still no update. Just wondering has anyone from this group heard anything from KBC in the past couple of weeks?
 

KBC latearrival

Registered User
Messages
7
Have you asked your Broker for a copy of your customer records with him, under the data protection act etc, including any records of conversations/ issues discussed? Brokers even at that time should have been recording in some way, details of any conversations they had with clients - many brokers had an Client relationship management (CRM) tool, on computer usually even back then, and anytime they spoke to you they would record details of the conversation on your computerized file. Best case scenario for you would be the possibility that broker did record the conversations and you are entitled to see a copy of those records. Unfortunately, you are outside the limit for how long they have to keep your records, but, there is a hope that they may still have a scanned archive copy somewhere of your file and/or the computerized file. Again, this is still only a record of verbal conversations, but worth a shot I think, because these brokers were accredited by IIB, and trusted by IIB to negotiate on your behalf etc and many still have an ongoing relationship with KBC, so their reputation, and even only their written records of discussions re trackers etc should hold some merit in trying to prove your case. You never know, it could only help. Many of the KBC brokers have been fighting on clients behalf re tracker issues, so hopefully yours can help you.
 

unfortunate

Frequent Poster
Messages
128
He's well retired and gone, unfortunately. Only record is that letter from KBC. Ah well!! Roll the dice.
 
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