I also lost my tracker with KBC
Hi There
I totally understand what you're going through, and I think it's robbery what KBC have done to some of their clients. I have a home mortgage plus a buy to let in the city center that i bought for my pension. I bought at the height of the boom both mortgages total to 540 euros. When I lost my job last year, and went into KBC to express my concerns, only then the advisors pulled out my contract and told me that 2 of my mortgages were originally on a tracker mortgage. I was SICK , as both of my mortgages have an interest rate of 5% and has caused me extreme worry, depression and anxity.
I told him he couldnt of been right, because all along I was always checking the front fact page of the mortgage offer where all your MAIN points are, terms, lenght, amount rates, and type of mortgage and KBC mortgage offer reads VARIABLE, not TRACKER VARIABLE, now how would a consumer know the differance.
As I thought i was on a tracker rate I fixed both of them 3 years ago, and have just come out of the fix rates. But even when you fix them are banks not obliged to point out to you that you're on a tracker, their paper work should it not read in black and white THIS IS A TRACKER RATE, the fix rate form stated nothing, I have actually kept all my paper work from KBC for years now and I have NOTHING in any paper work, OR the mortgage statements that you receive that the mortgage is a tracker.
I hired a solicitor who agreed with me, and took it to the ombudsman, and I couldnt believe the decision of the ombudsman took KBC side, he actually didnt see anything wrong what so ever to the fact that variable tracker wasnt clearly written anywhere in my paper work from kbc.
The suffering these mortgages have caused me, I did ask for the house prices to drop by 60% - I didnt borrow to have a luxury life, all I did was thinking about my future, which I had put 100k into my investment property. But now I have no option like many people, as we are stuck we cannot get out, WE CANT SELL because the banks want the balance which would be 150k in my case now, we cannot pay due to the high interest rate they have increased them again again , and lost of jobs and income.
What is the solution for people now - who want to just give it back so they can be free, that they can have a breathing space, and a life back, that is healthy with their families. I know have 2 small babies and find getting on very difficult. This country should get their act together.