KBC KBC giving me back my tracker!

Discussion in 'Tracker Redress' started by Rakitom, 25 Jan 2018.

  1. peemac

    peemac Frequent Poster

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    It would have a different account reference. I think KBC do a sub reference eg. Account 345678 - 2 loans 345678/1 & 345678/2.

    I think "Top-Up" is just a user friendly way of describing it, but in reality its a separate loan but the security of the property is applied to it.
     
  2. gnf_ireland

    gnf_ireland Frequent Poster

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    Interesting - I wonder what other banks do in this case?
    Do they do the same for split mortgages?
     
  3. KBCconfused!

    KBCconfused! Registered User

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    Hi, I’m new to this forum but am really confused at the moment.
    I took out a mortgage with KBC Bank in May 2008 through a broker, fixed for two years and then variable I believe. I wrote to KBC in December to request that my account be looked at for the tracker issue (asked to do this by my PIP). KBC wrote back in January saying I was not affected but today in court, KBC requested an adjournment on the basis i was affected by the tracker!! I explained to Registrar about writing and the response and he put it back to the solicitor. She said her instructions were an adjournment based on my account being involved in the tracker issue…… so confused
     
  4. mccoypat94

    mccoypat94 Frequent Poster

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    What date did you submit your application through the broker?
     
  5. KBCconfused!

    KBCconfused! Registered User

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    not 100% but early 2008
     
  6. Jazzer1

    Jazzer1 Frequent Poster

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    Was your application made before the 11th of Feb 08
     
  7. KBCconfused!

    KBCconfused! Registered User

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    I don’t think so, I can’t find broker paperwork but know loan was drawn down in may 2008. Have requested copies of paperwork from KBC but haven’t gotten response yet
     
  8. KBCconfused!

    KBCconfused! Registered User

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    Letter of offer was April 25th 2008
     
  9. mccoypat94

    mccoypat94 Frequent Poster

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    The date your application form was submitted is very important, as per KBC cut offs. If you applied before 11.2.08 you should have been returned to tracker now
     
  10. peemac

    peemac Frequent Poster

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    Well the day of reckoning has arrived for me.

    Refund cheque arrived - it's about 10% higher than I calculated and total redress and compensation came to a six figure sum.

    Compensation was 20% of the overpayment and time value seems to be about 5%.

    Surreal is the only way to describe it.
     
    bowser, Mauritius, Wonder and 4 others like this.
  11. Johnc6

    Johnc6 Registered User

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    Surreal is Good, congratulations Peemac
     
  12. Ice Berg

    Ice Berg Registered User

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    That’s wonderful news Peemac Delighted ur fight is finally over. Well deserved. Congrats. :)
     
  13. Maureen999

    Maureen999 Registered User

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    Congrats and thank you for your helpful advise.
     
  14. Qwerty123

    Qwerty123 Registered User

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    Is compensation approx 20% for all kbc impacted customers or is it different for each case/cohort?
     
  15. Verity

    Verity Registered User

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    Great news peemac. Delighted for you.
     
  16. Sligolive

    Sligolive Frequent Poster

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    Great news Peemac.....congrats!
     
  17. peemac

    peemac Frequent Poster

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    Thanks to all the comments .

    I know there are many on here that are still hoping / fighting their corner - especially those who fixed initially between 2006&2008 that were not included in the impacted group.

    But there are also many that knew from day one that they were cheated. And this outcome is what we have hoped for / prayed for / fought for, for up to nine years .

    Definitely Padraic Kissane was instrumental, but I have always said Philip Lane was the disruptor that had the power and the means to force this change .

    To Padraic and Philip and the teams around you...

    ...thank you.
     
  18. Cushcam

    Cushcam Registered User

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    Congrats @peemac - Similar to yourself, i’m 9 years, 7 months since coming off fixed, & imagine when Postman Pat does arrive, i’ll start into a rendition of

    “Aruba, Jamaica, oh I want to take you to
    Bermuda, Bahama, come on pretty mama
    Key Largo, Montego, baby why don't we go
    oh I want to take you down to
    Kokomo, we'll get there fast and then we'll take it slow
    That's where we want to go, way down in Kokomo”
     
    peemac likes this.
  19. raglan

    raglan Frequent Poster

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    Congrats Peemac....I too received letter Friday. Very happy to be back on tracker, Happy with redress amount, mortgage adjustment , €650 legal cost cheque, a bit disappointed in compensation amount which is about 13%, or over the 8.5 years we were waiting works out at about €50 each month for unnecessary stress and all the stuff that went with that stress etc....and a failed FSO case too but KBC letter now admits they “made an error” . TVM about 4%. Compensation is specific to each customer. Never thought this day would come at times, but it has taught me so much too but thank God for Padraic Kissane and his team and others who worked tirelessly on this. I will be contacting his office to send a cheque to thank them or if they don’t accept making a donation to charity instead. Hope everyone else gets sorted soon.
     
    bowser and peemac like this.
  20. gahfan

    gahfan Frequent Poster

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    That's great Raglan. Appeal the compensation amount