KBC KBC giving me back my tracker!

Rakitom

Frequent Poster
Messages
93
Positive update,

Hi All,

I got a communication from Tracker team today.

TRACKER RATE TO BE RESTORED FOR MARCH 1st payment.

Redress and compensation to be finalised by 30th June.

Update to be provided by end of March,

No ambiguity in the communication very straight forward.
 
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..MC..

Registered User
Messages
41
Great news Rakitom ... I too think I’m in the 650 group... hopefully we all will have further communication soon too !
 

Brendan Burgess

Founder
Messages
38,117
Thanks Rakitom

But I meant for you to tell the story of the mortgage
1) When did you draw down your mortgage?
2) Was it on a tracker?
3) Did you fix for a period or how did you lose your tracker?
4) Did you complain at the time?
5) Did you go to the Ombudsman

Brendan
 

Rakitom

Frequent Poster
Messages
93
1.) feb 2008
2,) started on fixed
3,) fixed 3 years, didn’t loose Tracker.
4,) no didn’t complain till Nov 2017 but had made previous enquiry to bank at end of fixed rate 2011, or 2012.
5,) no ombudsman

I have two loans from bank,

1, March 3rd 2008 has always been on a Tracker, never been any different nor did they try to remove me from it. Started on interest only 3 years,

2, Feb 29th 2008, this is the loan that is in question, and as of today’s communication I’ll be on a tracker for 1st March. Don’t know what rate I didn’t push it. I’m assuming 1.24% as per flyer.

And overpayment refunded by June 30th + small amount of compensation.

Between this message and the last one this should clarify.
 

peemac

Frequent Poster
Messages
648
Hi Rakitom

Can you check your wording in the special conditions and say which of the following is on it


mine says says something like when the fixed rate is up the loan will then go to the homeloans variable rate?
Or
"At the expiry of the foxed rate period your loan will revert to IIB Home loans renewal rate. The IIB renewal rate is a variable rate and may be varied by the lender......
Or something different

I'm not understanding that KBC say that there are just circa 650 of people in this cohort over a 16 month period when they were still aggressively selling in the market. I would suspect that many more than this started as fixed in the period and the wording may have something to do with it. - And that then would require further intervention by Central Bank.
 

Rakitom

Frequent Poster
Messages
93
Peemac

"At the expiry of the fixed rate period your loan will revert to IIB Home loans renewal rate. The IIB renewal rate is a variable rate and may be varied by the lender...
 

peemac

Frequent Poster
Messages
648
@Rakitom Thanks - that's interesting.

Maybe KBC are using the combination of the wording and the flyer to avoid a group of customers?
 

peemac

Frequent Poster
Messages
648
peemac

Could you expand on your last post.

Thanks
It was just a theory about how they can differentiate between two customers with similar contracts from same month getting different response - but by other responses, this is not the reason.
 

peemac

Frequent Poster
Messages
648
Hi everyone, can I just ask, because it seems like more than 1 person on various threads have said that KBC confirmed they will get their tracker back with redress and compensation which was done over the phone or by email????

I contacted KBC about this and they advised that no one has or should have been told this way. That is why I a bit shocked as I thought they would ensure, like in the past, that all correspondence will be done by post.

But to be honest I shouldn't allow anything to shock me at this stage!
I'm guessing that its not specific to particular accounts but to those deemed impacted - tracker back March and redress/compo by end of June. Only change is that they are saying the tracker will be back in March, which an educated guess would have said too.
 

PJDCol

Frequent Poster
Messages
134
Yes I agree that the deemed impacted letter have gone out but as we know this letter was not very specific. It is not specific for the reasons we know as it does not commit KBC to anything.

However some people on the threads are saying they are getting confirmation by phone and email of exact dates that they will returned to tracker by email or phone, with comp & redress to follow. I don't see how KBC staff can be so sloppy again since it is Deloitte who is looking into all the accounts.
 

Rakitom

Frequent Poster
Messages
93
Yes I agree that the deemed impacted letter have gone out but as we know this letter was not very specific. It is not specific for the reasons we know as it does not commit KBC to anything.

However some people on the threads are saying they are getting confirmation by phone and email of exact dates that they will returned to tracker by email or phone, with comp & redress to follow. I don't see how KBC staff can be so sloppy again since it is Deloitte who is looking into all the accounts.
Hi PJ

You seem to be really frustrated by this,

Ringing KBC quoting what you have read on forum is wrong. If you believe you are within a cohort you should stick to that.

Your gung-ho aggressive approach won’t get you anywhere.

Stick to the facts. Or get help from Padric.

Have you been quoting posters of this forum when contacting the bank?
 

PJDCol

Frequent Poster
Messages
134
Hi - No I'm not frustrated at all and as I said above nothing shocks about this. I have been dealing with KBC since 2009 on this and was the first to create a KBC forum on here. I have also dealt with PK for years.

It's just people are saying they are been told specific dates and the vital information by email and phone which doesn't go line with my experience for nearly a decade with them!

Absolutely not would I quote something from these forums....but I gather information like everyone on here about the status of what is happening.
 

Rakitom

Frequent Poster
Messages
93
Hi - No I'm not frustrated at all and as I said above nothing shocks about this. I have been dealing with KBC since 2009 on this and was the first to create a KBC forum on here. I have also dealt with PK for years.

It's just people are saying they are been told specific dates and the vital information by email and phone which doesn't go line with my experience for nearly a decade with them!

Absolutely not would I quote something from these forums....but I gather information like everyone on here about the status of what is happening.
Hi PJ

On that basis.

This is the extract from my mail. Its informative and could be atributed to other cases.

I can confirm that we expect to have the rate rectification completed in time for the 1st March payment and hope to have the Redress and Compensation finalised by 30th June if not sooner. We will provide an update to you by the end of March in the event that this has not been finalised before then.
 

Clara16

Frequent Poster
Messages
95
I called KBC Friday evening to query if March 1st direct debit was amended and they confirmed changing to rate 1.25%, its a difference of over €400 to my mortgage payment each month. I wont be happy until I see it on screen on March 1st!!
 

Gavin77

Frequent Poster
Messages
81
Clara16
Did you check what your payment on your capital is? Seemingly I've to pay €200 extra on capital than previous month.
 

..MC..

Registered User
Messages
41
That’s great Clara, I too called for an update last week but they hadn’t any further information other than to wait for letter in !

Great to have your rate verified!
 

Clara16

Frequent Poster
Messages
95
I didn't to be honest I was too shocked to ask questions, the guy I spoke to gave me the total amount to be debited March 1st it was broken out. Should I call back and question it?
 
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