Hi Verity. I am like you and didn't know the situation until I received the letter on Jan 5th. We struggled (blindly) like everyone else but always made sure we paid the mortgage. I would also like to thank all who fought the fight.Hi folks,
I am a new poster having watched the kbc threads in past few weeks following receipt of 'in scope and considered impacted letter.' Had difficulties with account verification on Aam hence my delay in posting. I rang KBC tracker helpline today just seeking update and was not expecting much but was told that an update had just been posted a half hour earlier that those in receipt of letter dated January 5th would have rate restoration with effect from March 1st and redress (if any) to follow. I have to be honest and say that letter came put of the blue for us. We had switched to kbc following top up in 2006. We were young and I was that woman on the bus who didn't know what a tracker was. Fixed in March 2007 following letters from bank and fear of ongoing interest hikes and ignorance. Roll off 2012 to variable. Older and somewhat wiser to 4.65 which we just accepted was right while punitive financially for us at the time. Following letter checked our original contract which stated we had 1.25% above ecb for mortgage. I am embarrassed to say that I didn't know we had a tracker which in our defence wasn't that low given ecb at the time. We really struggled to meet our mortgage commitments on variable rate following Job loss in 2011. kbc contacted us to engage in a debt management plan in 2013 with stepchange charity a UK organisation which they had brought on board to pilot with customers. We were struggling to meet repayments from 2012 on. We engaged with this and at every level with kbc to ensure we met our mortgage commitments and all along had we been on the right rate we could have managed. End result we ended up restructuring and adding 5 years onto mortgage in 2014. I have had so many sleepless nights worrying about how we would mange to keep it all going financially. Thanks to all of you who fought this fight over the past number of years because it is your efforts and dogged determination together with that of padraic kissane that will lift a massive weight from me and I am sure of hundreds of others. I am still half afraid to believe we will actually be redressed never mind compensated. Sorry for the long post!
Thanks for that Verity. So I suppose I will wait for the post on Monday........Hi Shnethb,
I was just driving home and said you know what maybe on foot of first cohort getting correspondence and with ceo before finance com next week maybe they have moved it on. Went through the usual ID verification on calling and said I was just wondering if there was any update. She asked me to confirm that I had received a letter and once that was done she said that she could tell me that those in receipt of that letter would have emailed rate rectification from March 1st. She said she couldn't Confirm rate but said we would receive notification in writing and redress to follow as calculations had to be completed again saying (if any) as per letter. She said update had only come through half hour before on system.