KBC KBC giving me back my tracker!

WILLOW

Registered User
Messages
17
I got a tracker back on a top up loan. I appealed to the appeals panel for my main mortgage to be put on tracker using the prevailing variable rate argument. I have been unsuccessful. I now have nothing to loose and bring it to the ombudsmen...
 

mccoypat94

Frequent Poster
Messages
118
Have the CB any powers to force KBCs hand here? Pk believes my case is strong, If cb concur what's the situation?
 

unfortunate

Frequent Poster
Messages
128
I went to ombudsman and KBC wouldn't budge. So under advice from guy at ombudsman's office closed complaint with the option of reopening or lodging again if more "evidence", for want of a better expression. Wonder what will happen between pk team cbi
 

Brendan Burgess

Founder
Messages
37,853
Just to clarify matters here.

The Central Bank has persuaded many lenders to put many thousands of customers back on trackers. I believe that many of these people who got back their trackers would not have been successful with the Ombudsman or in the courts.

The CB has persuasive powers only. They can't direct a lender to put people back on trackers.

The final decision rests with the Ombudsman and the Courts.

So, in some cases, e.g. the AIB Prevailing Rate issue and the Ptsb discounted tracker issue, I think that the CB was wrong in siding with the lender. But it's a matter of opinion and now the Ombudsman or the Courts will decide.

So to answer your questions - I think Padraic Kissane has played a blinder in persuading the lenders and the Central Bank that many borrowers should be restored. But he couldn't possibly have won every case.

So now, anyone who is not happy , must go to the Ombudsman or the Court.

I am assuming you have used up the KBC internal appeals system? If not, you should do so as you will see their arguments clearly and will be able to frame your complaint to the FSO accordingly.

Brendan
 

WizardDr

Frequent Poster
Messages
1,128
Brendan gives a good summary and particularly take note about what he says about framing the argument. That is the only way to win with Ombudsman. They do not search for your arguments which is a fundamental weakness of their approach.
 

mccoypat94

Frequent Poster
Messages
118
Unfortunately Brendan we are in a position where the FSO won't look at our case as they say the review is not complete. KBC maintain they are finished and my appeal was rejected. It's a complete state of limbo for many .. It's painfully slow, id love to put the whole sorry episode to bed
 

demoivre

Frequent Poster
Messages
2,584
I got a tracker back on a top up loan. I appealed to the appeals panel for my main mortgage to be put on tracker using the prevailing variable rate argument. I have been unsuccessful. I now have nothing to loose and bring it to the ombudsmen...
I know of several cases in this cohort and they are all waiting until the CB review is complete before doing anything. On what basis did KBC say you weren't entitled to the tracker?
 

demoivre

Frequent Poster
Messages
2,584
Unfortunately Brendan we are in a position where the FSO won't look at our case as they say the review is not complete. KBC maintain they are finished and my appeal was rejected. It's a complete state of limbo for many .. It's painfully slow, id love to put the whole sorry episode to bed
According to Phillip Lane yesterday no bank has completed it's review. From his Introductory statement yesterday to the Committee on finance ,expenditure and reform:

"Four of the five main lenders are close to completing their redress and compensation phases, and we are exerting significant pressure on the remaining lender to finish its process. Our bank-by-bank supervisory review of conduct of the Examination is also significantly advanced, but will not conclude until lenders complete remaining work."
 

Jazzer1

Frequent Poster
Messages
143
P.kissane is meeting with kbc next month in relation to the case he believes should be back on a tracker
 

Jazzer1

Frequent Poster
Messages
143
P.kissane believes that kbc didn't stop offering tracker mortgages by the flyer until the end of May 08 and not Feb 11th. So there is a small cohort of people there. So I suppose there is another cohort at the other end when kbc introduced the roll over to tracker after 2 years in Nov 06.
 

Jazzer1

Frequent Poster
Messages
143
Waiting on the Central Bank to get back to P.Kissane on the report he gave to them before Xmas. Was talking to his office last week and they still hadn't had an update as of yet.
 

Muddle2018

Frequent Poster
Messages
50
I am still waiting on my appeal to go through. I am happy with the package as in what they owed me off mortgage in interes and what redress is but they did at one point charge me almost 5k in legal fees added to my mortgage which is what I am appealing as had they not been overcharging me to begin with then I would not have had arrears ergo no need to try and bring me to court to reposses my home.

Not sure if everyone has been advised but the cut off for appealing is a year so if you were sent your pack say 3rd Feb last year then you cannot appeal now. This is what I was advised via phone recently from the appeals team.
 

mccoypat94

Frequent Poster
Messages
118
Another 1400 impacted cases due to be announced on Monday by the Central bank according to the Irish times report. Any indication what cohorts may be included?
 
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