KBC rate cuts

New Mortgage Pricing – effective from 3rd April 2018

KBC will reduce Variable, 2, 3 and 5 Year Fixed rates by between 5 & 20bps while maintaining market leading 10 Year Rates

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Who is eligible?

•The new rates are available to both new and existing customers of KBC.
 

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Thanks @Brendan Burgess

It looks like they've concentrated rate reductions in shorter term rates, which will have them competing directly with BoI before they get back to broker channel.
 
Interesting to see that KBC have nudged up their 10-year fixed rates.

Still, great to see lower short term rates.

KBC look like a particularly good option for switchers with relatively low mortgage amounts.
 
Reading stock broker analysis this morning, they expect moves by UB and KBC could result in reductions from PTSB to try retain their increased market share.
Estimated that all 3 lenders receive > 40% of their new business through brokers.

Brendan Burgess said:
while maintaining market leading 10 Year Rates
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Sarenco said:
Interesting to see that KBC have nudged up their 10-year fixed rates
Click to expand...
What's interesting here is that KBC is no longer the best 10 year rate for 80-90% LTV. They are 3.75% (with current account) compared to boi at 3.5%. I thought kbc had found a niche in the market, but obviously recent hedging cost increases is impacting.
 
Surprised they did not bring their <60% LTV variable below 3% - even to 2.99%... just to have the headline that they have variable rates less than 3%

Always good to see rate reductions, but I am guessing this is for new customers only and existing customers on the variable rates cannot avail of them without availing of the Existing Customer offer and paying for another valuation to be done? Would be interesting to see how customers who availed of the existing customer offer previously and remained variable get on here.

Also will be interesting to see if someone on a previous fixed term requests the break fee what they are told it will be? It will be an interesting test case for the "Bank of You".

Guess I made the right decision (for me) to fix for 10 years at 2.95%..... very interesting that this rate has risen up. Any idea on the numbers who availed of the 10 year fixed with them?
 
I was on a 5 year fixed that i signed up to last January (2017) with KBC. I was a bit annoyed with they announced the 10 year fixed rate (I'd prefer the certainty).

Anyway i rang a month ago to see if i could break the 5 year fixed (@3%) and move to a 10 year rate (@2.95%)

I was pleasantly surprised to see that the break fee was 0e (yes, nothing). Yes i had to pay for a valuation (at 30% LTV), but i ask the EA that did the last valuation for a "copy" of the previous report for a reduced fee (75e). I rang today, and they confirmed that i got my application submitted in time for the existing rate (2.95) before it goes up in April.

KBC need to complete and send out the break fee documentation before you can resubmit the LTV application (as an existing customer). The 10 year rate at 3.05% is very good value (imo). If you offered me 3% fixed for 10 years 18 months ago i would have been delighted!
 
I am with KBC and contacted them back in February about breaking a fix and currently at 3.85% to move to 2.99%. however I never received letter that I requested for break fee. Chased them up on Wednesday and they said they would call back - they didn't. Chased again today and said letter would get sent out. Think I am going to miss out and end up on 3.2% and pay 3k extra over the 10 years. Very frustrating.
 
mugsymugsy said:
I am with KBC and contacted them back in February about breaking a fix and currently at 3.85% to move to 2.99%. however I never received letter that I requested for break fee. Chased them up on Wednesday and they said they would call back - they didn't. Chased again today and said letter would get sent out. Think I am going to miss out and end up on 3.2% and pay 3k extra over the 10 years. Very frustrating.
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New rates apply from April 3rd, so possibly you have time?
 
Yes I'm hoping. Had valuation done by estate on Friday and getting report early next week but awaiting breakage fee letter.

Had a look back at my notes my original phone call was made on 9/2/18.
 
Looks like I got it by the the skin of my teeth on 10 year at 2.99% down from 3.85%. the 10 year suits our circumstances.

Whilst switching should be relatively simple it wasn't because in my opinion the way banks operate.

Also i ended up not having to pay any breakage fee because of the change in the wholesale rate - should they have paid me :)

Thanks to all the informed posters on here it's a great source of info as a long time lurker.
 
Anybody confirmed with KBC if you need new valuation done in order to avail of new rates? Currently on a variable rate with KBC.
 
Yes had to have new valuation though mine was switching between two different fixed rates.

I would strongly suggest you do things in writing or follow up calls in email to confirm things take place.
 
Just a follow up as I appreciated the help / info on here. We got in by the skin of our teeth.

First mortgage payment at 2.99% taken from account and have it in writing this is down from KBC fixed 3.85% that had 3 years left. We will be saving almost 10% and plan to overpay this amount each month.

KBC had issues creating the breakage fee letter and we never received this despite requesting this multiple times - turns out technical problem with their system.... Also our breakage fee ended being zero.

We only got movement when I rang and made a formal complaint and to be fair to them it was resolved in two days.
 
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