KBC KBC giving me back my tracker!

just called KBC yesterday to confirm payment Thursday as nervous of no written confirmation, they said letters were posted and will be received by week end.
they also advised a lower amount than previously on 20th Feb......... see what the next 24hrs brings.
 
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I wonder has your balance been readjusted ? Interesting indeed! Hopefully tomorrow will tell us more ...
 
Seems kbc print their letters in a third party service in Europe. They are then bulk shipped here to an post who then deliver as normal .

This type of service is fairly standard and there used to be a company in Naas that did a similar service (til they went bust a couple of months ago)

That explains how letters can take up to a week to arrive.
 
I have 2 KBC accounts.

Main House
B2L (not included within review apparently)

I received a letter on main house to confirm i was within review back in Jan, received letter today 28/02 to confirm I am back on tracker. 4.25%-->1.25%

No mention of compo/interest etc yet. I would be interested to hear other people's experience when these start coming through (new thread perhaps).

I had to sell my B2L as interest rates were high and overall my portfolio was a strain. KBC agreed but marked down my credit rating as a result against my wishes. I intend on pursuing them for compensation in this regard for a portion of the capital uplift between then and now in my B2L. I am still repaying the B2L mortgage also.

I am about 500 euro / month better off now which is great but would love to hear from people once they start getting some sort of calculations on interest and compensation. I intend on querying fully the break down/rationale for whatever they offer. In my previous dispute with them re: credit rating, KBC informed me I had only days to report any complaint to the FSO which was complete rubbish. They retracted this soon after once I challenged their head of compliance on it. They will likely strong arm people into accepting the first offer. Get advice - it is unlikely they can put a time limit on any compo offer.

Best wishes to all.
 
daraghmacl said:
I have 2 KBC accounts.

Main House
B2L (not included within review apparently)

I received a letter on main house to confirm i was within review back in Jan, received letter today 28/02 to confirm I am back on tracker. 4.25%-->1.25%

No mention of compo/interest etc yet. I would be interested to hear other people's experience when these start coming through (new thread perhaps).

I had to sell my B2L as interest rates were high and overall my portfolio was a strain. KBC agreed but marked down my credit rating as a result against my wishes. I intend on pursuing them for compensation in this regard for a portion of the capital uplift between then and now in my B2L. I am still repaying the B2L mortgage also.

I am about 500 euro / month better off now which is great but would love to hear from people once they start getting some sort of calculations on interest and compensation. I intend on querying fully the break down/rationale for whatever they offer. In my previous dispute with them re: credit rating, KBC informed me I had only days to report any complaint to the FSO which was complete rubbish. They retracted this soon after once I challenged their head of compliance on it. They will likely strong arm people into accepting the first offer. Get advice - it is unlikely they can put a time limit on any compo offer.

Best wishes to all.
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Delighted to hear that daraghmacl. €500 per month is a Hugh difference. I am calculating mine will be down €325 PM but thats my calculations and I got a D in pass Maths!!!! Il confirm in the morning.
 
Hi Folks,
My letter has arrived, tracker rate and payment confirmed, lower than what I was told on phone.

There’s a form to return if you do not want to avail of tracker rate.

Then next section says to be informed of review of account for compensation/ redress (if any) by March 18/ then to be completed by June 18.

Hope you all receive the same soon.
Regards
MC
 
Compensation (if any) so still not confirming they are repaying overcharge even though we are now on tracker rates........ so frustrating
 
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That's great news MC. No letter here today but good to know it's on the way and may even quote a lower figure. Personally, for me I won't really believe it until I have it in writing.
 
Clara16 said:
Compensation (if any) so still not confirming they are repaying overcharge even though we are now on tracker rates........ so frustrating
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Its a caveat - has to be there in case there's even one account that is not due any refund.

I wouldn't be in any way concerned.

No post in kildare til next week, my 9 year wait has a few days to go ;-) - and I will be framing it.
 
The irony,

RIP SVR
29/02/2008 to 28/02/2018

I was fixed for 3 years, roll on phase 2 redress & Compensation.

Not to sure what my savings will be, I reduced to 3.3% JAN from 4.25% this year. I think that was about €147.00 it cost me 129.00 for a valuation.

So another 2.05% should be another €300 approx.

I’m mindful of the sensitivity’s of other posters that have not been fortunate to be part of this latest adjustment.

I would like to offer my best wishes for those who fight on, I also believe there will be more to this story and all hope is not lost.

For those who lost there homes due to this travisity I really hope the future is brighter for you all.

I would like to quote my 100 year old granny. Live every minute like it’s your last; one day it will be.
 
While tomorrow promises to be a milestone day for many KBC customers , it may serve us well to acknowledge key individuals who have pursued this matter against many institutions against considerable odds over the last number of years. Not least I feel we should take a nod to Pauric Kissane, without whom tomorrow,s rectification of many KBC mortgage interest rates would Never have crystallised.

With a view to recognising Pauric' s efforts it may be appropriate for us to consider Pauric's firm in relation to future financial products ( Life cover , mortgage protection, pensions etc) that we may wish to investigate/ purchase in the years ahead. Perhaps this may go a little way to to recognise what Pauric has achieved on our behalf.
 
Just checked. Payment has been taken. €348 in the difference. Off to bed a happy man.

To echo the sentiments above. At times things were tough and money was tight but we were able to weather it. Other people had a lot tougher time then we did and until Jan we were blissfully unaware that we were being overcharged.

A big thanks to all those who were fighting this long before now. I know some still have a fight before them. I wish you all the best and hope you have a fruitful outcome.
 
peemac said:
Seems kbc print their letters in a third party service in Europe. They are then bulk shipped here to an post who then deliver as normal .
This type of service is fairly standard and there used to be a company in Naas that did a similar service (til they went bust a couple of months ago)
That explains how letters can take up to a week to arrive.
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Agree its fairly standard, but still does not explain the week delay
[Day 0] Letters generated on IT system in KBC during the day - sent to Europe overnight electronically.
[Day 1] Next working day letters printed and put into envelopes - sent to courier
[Day 2] Overnight courier to Ireland, franked and dropped at post office
[Day 3] An Post next day delivery for the majority
Clearly they are batching on some side to reduce processing costs and that's what adds the time into it
They should give the option for everyone to also get the letter as an attached emails for all written communication, as well as physical letters. given the delay. Remember "The Bank of You"
 
Well delighted to say a happy outcome at my end too - and an even greater reduction than they had first indicated. Down over €400. So grateful to those who have been fighting this for so long. I've also been making an issue about the letter as you know, however living here in Dublin I didn't have a postal delivery yesterday and obviously won't be getting one until after the weekend but I know it will come. It's a huge reduction - now I wonder where I could go shopping today...
 
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