KBC KBC - redress amounts confirmed?

peemac

Frequent Poster
@JENNI44
Your mortgage balance should be about €247,000 and that's probably only about 17k difference from what it was before correction.

I think that some of the kbc call staff are getting things mixed up and probably best to wait for the letter.

Remember, the staff calling are not very experienced and are on short term contracts - I know one that worked in an insurance company just a few months ago at a standard customer service level and he's only just out of college too.

So, whilst they are doing their best, I think they lack full understanding of the various figures.


Btw iceberg gave me his figures and I was in the ballpark :) He's very happy
 

Variable

Registered User
Ur right @peemac the kbc callers do seem to be getting things mixed up. The person I spoke to was a manager and even he confused me and didn't have all the information I was looking for. Roll on the postman! Im eagerly awaiting my pack :)
 

Variable

Registered User
KBC informed me by phone today that a lot of redress and compensation packs were sent this week. Unfortunately I am not included in this batch. For those that are lucky enough to receive their redress and compensation packs this week, I am curious to know when you were notified that your account was impacted - last year or this year ? I was also told that they are not priortising one account over another. It is just a matter of when the figures are done and good to go.
I was notified this year @berona123
 

Cushcam

Registered User
My relationship with the post man has deteriorated in recent weeks. He has to now drop off our letters with neighbours, as It was getting to the stage where I would find myself shaking him, which asking if he had an A4 size envelope with him!
 

Variable

Registered User
My relationship with the post man has deteriorated in recent weeks. He has to now drop off our letters with neighbours, as It was getting to the stage where I would find myself shaking him, which asking if he had an A4 size envelope with him!
Comical! Lol mine is getting nervous too.
 

JENNI44

Registered User
@peemac I Don't doubt your figures at all, I got in or around the same as you when I did my own calculation. My mortgage is now down to 250k as per phone call yesterday so I don't understand . We did have an interest only agreement for around 12 mths if this makes a differernce ! Hopefully I'll know more today and will be sure to share any info l get, fingers crossed !!°
 

peemac

Frequent Poster
@JENNI44 Whilst having an interest only agreement doesn't put you into arrears in the way you and I think, it would have your account in arrears compared to what was originally agreed and with the CB insisting that accounts be returned to a state they would be in if no error occured, this would be part of it and possibly explain part of the difference. The mortgage at circa 250k is about the correct figure, so its possible the person on the phone got the figures the wrong way around as one year of interest only would lead to about 8k - 9k of principal being deferred.

You should be able to get approx figures yourself as you'll have had your annual mortgage statement from february and that will give the capital balance at 1st Jan. Deduct 2500 for payments from Jan to March and the difference between that and the new balance of 250k is what was put against the mortgage balance.
 

JENNI44

Registered User
@peemac the wait is finally over and i'm very pleasantly surprised , as i mentioned already 42k was deducted from my mortgage to bring it in line with what it would have been today. I received my cheque in the post this morning for nearly 52K which was a huge surprise as i assumed that most of the redress had been taken off my mortgage. Its quite sureal at the moment, but i'm very happy with the outcome. thanks for all your help and good luck to everyone still waiting.
 

Variable

Registered User
@peemac the wait is finally over and i'm very pleasantly surprised , as i mentioned already 42k was deducted from my mortgage to bring it in line with what it would have been today. I received my cheque in the post this morning for nearly 52K which was a huge surprise as i assumed that most of the redress had been taken off my mortgage. Its quite sureal at the moment, but i'm very happy with the outcome. thanks for all your help and good luck to everyone still waiting.
Amazing! Thrilled and relieved for you. I cant get home quick enough to check the post. How much did u borrow?
 

peemac

Frequent Poster
there are three people who deserve all the thanks.

1. Padraic Kissane who is probably the most stubborn Kerryman you'll find and that's said in the best possible sense. And is bank enemy #1.

2. Phillip Lane and his team at the Central bank who refused to play the various bank's games and challenged them at every turn to correct their errors.

3. Brendan Burgess who's aam site enabled people with similar issues connect and get support and advice - some of us have been here for 9 years arguing this issue and it ensured we never gave up hope.
 

Cushcam

Registered User
There wasn't any post before i left this morning, & I rang up this morning, with no redress figures forthcoming, so they have me last in the Q i betcha :) To all who received conclusion today, enjoy it!!! The wait goes on ....
 

Geturtrackerbk

Registered User
Hi @peemac I see from the forum you've been very helpful to people. Can I pick your brain if you don't mind. I was just told I've won my appeal against KBC and they are going to put me on a 0.75% tracker rate on 193k since 01/07/2008. Overcharged I would think by an average of 4% per annum. This is a buy to let mortgage. I am not in arrears but was on interest only for 6 years and then went on a part C&i payment for the last 4 years. So questions how much do you reckon I will get back and what will the split be between capital reduction and refund + likely compensation?? All help gratefully received.
 
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