Brendan Burgess
Founder
- Messages
- 52,117
I currently have a complaint in with FSO regarding wording of their interest rate clause in my mortgage contract which I believe to be in breach of Unfair Terms in Consumer Contracts directive - took KBC almost a year to reply to original complaint. They have continued to charge us 4.25% despite reducing interest rates for other mortgage products. They are impossible to deal with and I knew there had to be a catch relating to this new offering. Have absolutely no intention of opening a current account with them or paying for a valuation at their behest. Recently received my files under a Data Protection request and found some of the original documents relating to the application had signatures which were not of our hand. Unfortunately we were not educated adequately on the matter at that time and placed our blind trust in a local accountant who was acting on behalf of a broker for KBC. I would love to find out if the broker and the accountant are still in receipt of commission from our mortgage.
>>Homeowners will have to submit a valuation from a valuer approved by the bank, and the lower rates include an extra discount for using the bank's current account.
I wonder how many people will actually change rates given they have to submit a valuation to get them, and more than likely pay for that valuation? Given the statistics on changes for P-TSB to the managed rate, I am nervous on the end result.
Question can I move from AIB after the switch as they are paying for professional fees.
Technically speaking, the rate you moved to in January 2015 was a <60% LTV, as they did not have a <50% one at the time. This is the same rate I am currently on, and the exact same scenarioWe moved to them in January 2015 from BOI to a rate of 3.55% on the basis of a LTV of less than 50%.
I am in the same boat. On the old valuation I have a LTV now of about 22% and with an updated valuation it would be less than 20%. Obviously I feel a new valuation is just an extra cost on myself, but I do plan to ask them if I need to get one done. Hopefully not !But, I wonder will I actually need to get an up to date valuation as obviously the LTV is less than 50%, based on house values and significant over payments?
Its the only way, but will leave it a week or so until things ease off and the agents have been properly briefed accordingly.But you will have to ask them.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?