Congrats. Mine was part fixed part tracker in 2006 and then in 2008 the whole lot was fixed. After that we were never given tracker. We've been returned to tracker for part only and received redress and compensation. Wonder what the difference was with your case?I got a letter today stating that the full mortgage account has been put back on a 1.25% tracker. We had part fixed part variable over the years so only one portion was put back on the tracker last month. In total a saving of 385 euro a month cant believe it. Said they will be in touch before the end of June with redress and compensation.
Depends on term - if 25 years, Circa €60,000 overcharge, €2,000 time value , about €10,000 compensation. A little higher if its a 30 or 35 year termHi im with KBC...im on a tracker rate from 2005 for €290,000mortgage and a top up of €70,000 on 2006...started my fixed rate from 6/2006 until 6/2009...then VR afterwards for 4.50% until feb 2017.
I got confirmed letter that they all went back to tracker rate on both loans for 1.10% starting on the 1st of March....
Any idea what redress/compensation due for us? THANKS!!
Thanks - its a pleasant "hobby"