The flyer / communication was to brokers. Brokers bring new business to banks. It would not apply to mortgages previously taken out and moved to a fixed period after commencement .I fixed in November 2006 for 2 years. What was the date of the “flyer”?
Brokers primarily bring new business and it would be understood by brokers to be about new business. Unless you can prove otherwise, I would think it's a path with a dead end .The cummunication /flyer did not say it
Was for new customers it said all fixed
Rates will roll onto tracker, end of story.
Brokers primarily bring new business and it would be understood by brokers to be about new business. Unless you can prove otherwise, I would think it's a path with a dead end .
The cummunication /flyer did not say it
Was for new customers it said all fixed
Rates will roll onto tracker, end of story.
I don't think does think that - what he is arguing is that all fixed rates drawn down from that date even if applied for before that date, should be included and I would agree with that as the contract is only sealed upon drawdown.Padraic kissane thinks otherwise he said it applies to all fixed rates
He is a broker is he not ?
Here’s a nightmare scenario for KBC.
If you invested the money in bit coin every month for the last 7 years what would your return be.
I don’t think this is a normal investment scinario.
But would like to know the answer?
The cummunication /flyer did not say it was for new customers it said all fixed rates will roll onto tracker, end of story.
Why would they have sent the flyers directly to customers? Who are the customers in this case? Every person in Ireland who had not yet signed up to a KBC mortgage? Those who signed up it is irreleventSurely they'd have sent such communication directly to the customer?
I am sure there are lots of people with KBC mortgages >150k even now never mind then. Its easy to envisage an existing KBC customer with a mortgage of that size in the boom timesThe communication states its for "loan amounts" over/under 150k. That would suggest to most people that its new loans .
I agree with this statement - unless of course the change was made by a broker rather than directly with the bank.Personally I think this is an extremely weak argument and I can't see the central bank accepting it.
Correct - if KBC wanted to encourage existing customers onto a product, they would contact them directly rather than via a broker. A broker is designed to obtain new business - either new mortgages or switching. The flyer was sent to brokers onlyI just think this is not an argument that will work. The first question any legal person will ask is what I say above - If this was aimed at customers that already had a mortgage, would it not have been sent directly to them and not the brokers?
The post man done a great job back then and delivered letters on nearly a daily basis.You forget 2005- 2009 very few people had email then KBC had no regional offices communication is not the same as now
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