The lower the interest rate the higher the capital repayment - this would be natural enough in a mortgage scenario.Did you check what your payment on your capital is? Seemingly I've to pay €200 extra on capital than previous month.
Hi Did they confirm the 1.25 rate.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!!
Hi Clara,@Rakitom yes I was first advised of direct debit amount then asked what rate was that and was advised 1.25%. am still waiting on written confirmation hopefully it arrives in mail before 1st March.
Hi DamLooks like everybody who is deemed impacted will get what they deserve, as for us on the outside its bleak..
Hi Dam,
Hopefully you will get some more information from a financial advisor, maybe you and others in same timeframe deemed not impacted could work together. There might be strength in numbers.
Best wishes.
MC
Agree here with one exception - if you had a portion of the mortgage fixed at the point in time the over payment was made, then the over payment could not come off the fixed portion but the variable portion. When the over payment was made, had you any portion of this fixed or was it a combination of variable and tracker?KBC should take the 50k capital payment off whichever portion was most beneficial to you.
Absolutely you have a case. The over-payment should have been done eitherGot confirmation today of rate rectification. My mortgage was split 1/3 tracker and 2/3 fixed in March 2008 (drawdown 2005). They are giving me tracker for the 1/3rd but not on the remainder. However the big problem is that we made a 50k capital payment 3 years ago off the mortgage and kbc took that off the 1/3 amount meaning that balance now on a tracker is very small and the much larger balance remains on the higher rate . We didn't specify at the time which portion of the loan the capital payment should come off. Anyone think I have a case to have the higher portion deducted by the 50k thus meaning I get the benefit of the tracker on a larger portion ?
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