KBC failing to provide break fee, any comeback?

[Zenith63]

Curious if anybody else is experiencing the same thing or has been in a similar position and tried to pursue it with the bank.

I contacted KBC mid-April looking for a partial break fee so I could pay a lump sum off our fixed-rate mortgage. Since then there's been a series of mistakes by KBC: not contacting me when they received the calculation, so when I chased it they told me it was €0 but expired so they they needed a new quote before I could pay off the lump sum, telling me I needed a new mortgage pack in the post to complete the partial break which never arrived and then I was told this was not necessary. End result being we're two months down the road but the funds are still sitting in my KBC Current Account and I'm down €1000-1500 in interest payments.

Has anybody experienced this and tried to pursue the bank over it? I'll survive without the interest saving, but it irks me that KBC are putting their desire to leave the market in haste ahead of consumers' interests.

Thanks!

 

[Brendan Burgess]

Hi Zenith

1) Pay the lump-sum off the mortgage anyway.
2) Complain to KBC if you are charged a break-fee
3) Take it to the Ombudsman if they reject your complaint.

4) Consider making a complaint anyway, about their service and how much it has cost you.

Brendan

 

[Zenith63]

1) Pay the lump-sum off the mortgage anyway.

I contemplated that a few times but the tone I was getting on the calls with KBC was that I needed to wait for the break fee calculation, but you're right I should have just done it.

I just called them again, apparently for some mortgages they can get a break fee calculation there-and-then on the call, others need to go back to some department or other for calculation. I asked if I could pay it off anyway, they said I could but they could not guarantee the fee would be €0 (understandable) and they use a different (but similar) calculation when you pay off a lump sum without approving the break fee first but could not explain what it was (dubious).

Anyway thanks as always for the input, they've escalated the request again and I began the complaints process and will update where it goes.