KBC KBC - redress amounts confirmed?

Audrey-666

Registered User
Messages
14
Ok thanks I’ll continue to stalk the postman so
I think they must have to say that to everyone they have my head wrecked the wait is driving me crazy
 

Babog007

Registered User
Messages
33
Hi I got a let yest from KBC saying we're impacted. I'm shocked thinking it's too good to be true. We'd a 3 yr fixed rate 2008. In 2011 when the fixed rate enddd I complained several times as we weren't offering a tracker rate. This was laid out in their booklet. But their Complaints Manger responded saying it wasn't in our contract.

My q to you all is does this go back to then?

I've attached the booklet supplied with pack in 2008.
 

Attachments

KBC latearrival

Registered User
Messages
7
Same here, posted details earlier today in the other similar KBC thread. Took fixed rate for part of new mortgage in 2008, rolled off onto Stand variable rate, now KBC saying they should have put us on Tracker. My letter dated 27/4/18.
 

Maureen999

Registered User
Messages
8
Hi we got redress of 26k v happy with it. Took out mortgage in 2003 for 189000 this is tracker impacted. Took out top up 100k in 2007 not impacted. Am all ok with the above.
In the breakdown letter from kbc my balance in aug 2010 which they have deemed date of impact is 154k but i have letter from kbc dated july 2010 stating the balance is 140k and 85k for top up.
Sorry for sounding silly but should i contact kbc re letter or am better off as it.
Also we paid 20k off mortgage in jan 16 they have included this in calculations. Should i contact them and get paid off the top up.
We do plan to actively pay off what we can over next few years as both in early fifties . With low pension provisions. Thanks in advance.
 

Sam2017

Registered User
Messages
4
Hi All, would anyone happen to know what the most lenient restructure options that were available from KBC for both a family home and invest property in 2012? Apparently these arrangements are what KBC are using to determine if a property was lost due to the overcharge.
 

Shell29

Registered User
Messages
4
Hi all,
I received my redress & compensation a couple of weeks ago.
Has anyone appealed to get their redress paid directly to them & not off their mortgage?

Thanks
 

peemac

Frequent Poster
Messages
630
Hi all,
I received my redress & compensation a couple of weeks ago.
Has anyone appealed to get their redress paid directly to them & not off their mortgage?

Thanks
Kbc follow the central bank guidance on redress and you would have had a detailed breakdown of everything.

If you have overpaid compared to what you should have paid then that overpayment is given to you as a cheque.

If you went on interest only or reduced payments for a period, then the overcharge would still be the same, but the overpayment would be much lower than the overcharge.


Also, due to the way mortgages are calculated, different interest rates would result in different end of year balances. Kbc have to work this out based on the new lower rate - and then adjust the balance to reflect what it would have been if the correct rate was always applied.

Anything I've seen so far would suggest that kbc have correctly followed central bank guidance, so I can't see any hope / reason for an appeal on these grounds.
 

gk_033

Registered User
Messages
7
Hi..another Q. regarding KBC redress please.
Have been offered 22k compensation and also approx 70K off my mortgage. However my issue is the balance if 160K.
We were in constant touch with the bank for few years requesting to change our interest rate or help us in extending the mortgage for few years but they refused. Long story short..it was a buy to let property and about 3 years ago we stopped payment completely as it was not on rent ( kbc advisor told us over the phone if you dont have income..we cant do anything ..and like an idiot i thought they were trying to be helpful!!).The property was taken up by receivers 2 years ago and sold off early last year. Not sure for how much because no one contacted us. I saw the property on sale in Daft.ie and I can see people living there. Anyway my issue us how will I pay the balance of 160k? Will the bank continue to add interest etc. to this amount ?
Were kbc not aware of tracker redress issue last year - I have to admit I didn' have a clue. But if kbc were aware they did not act in good faith without fully checking through my account before selling off the property
With the reduced amount of mortgage I would have been able to make payments towards the mortgage with the rent but without any income this 160k will remain unpayable - any advice welcome.

Many thanks.
 

peemac

Frequent Poster
Messages
630
@gk_033
the 22k compensation seems quite good at about 30% of the overcharge, but as to advice, its one for a professional advisor and you should also have had a cheque to pay for such advice.

You can check what the property sold for on https://propertypriceregister.ie/website/npsra/pprweb.nsf/page/ppr-home-en

If it was a buy to let, unrented and no payment for 3 years and probably in negative equity, then I reckon you are probably better off rid of it.

If you can show it was sold for substantially below market value, then I'd be looking at that as an argument.
 

Don007

New Member
Messages
1
@steely1 Hi Steely1, I am new to this forum however my case appears very similar to yours, I am wondering if you received any compensation yet, I look forward to your reply Kindest Regards
 
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