KBC KBC returned my tracker, after taking it from me as a condition for restructuring back in 2009

Gavin77

Frequent Poster
Messages
75
Mauritius
Id say its nice to wake up this morning with that letter. Congratulations. It's great to get closure finally. I know what you do next is your choice regards appealing or not. But finally you have got to the end of this journey.
Well done.
 

Lightening

Frequent Poster
Messages
319
Congrats Mauritius must be a great feeling for it to finally be over!

This is the first cohort redressed I expect the impacted letters dated 5th January will hear same news by mid February!
 

Eilish

Registered User
Messages
16
Congratulations Mauritius, delighted to hear that you finally have a resolution and hopefully a very happy one. No sign of my letter yet but hopefully it's not far off now.
 

Verity

Registered User
Messages
15
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!
 

shnethb

Registered User
Messages
28
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!
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.
Can I ask Verity, as I have not contacted KBC recently. When you say above that an update had been posted. Is this posted online or posted to your home? I looked at their website but cant see anything....
 

Verity

Registered User
Messages
15
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.
 

shnethb

Registered User
Messages
28
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.
Thanks for that Verity. So I suppose I will wait for the post on Monday........
 

Mauritius

Frequent Poster
Messages
129
@Verity - Isn't it extraordinary that KBC were prepared to go to such lengths to enter debt management with you and then stretch out your mortgage by a further 5 years (which would have meant, of course, more interest for them) when they could have just put you on the right rate? The rate that you should have had all along. And now they will say there was an 'error' and they will apologise. Don't believe the 'there was an error' rhetoric. It's lies. They knew, they fought, they fought hard and then, miraculously, a tidal wave overpowered them and they had to cave in. That tidal wave was People Power. The people of this country have truly been amazing in coming together against this huge, gross injustice!
If they use the word 'error' shall we use the word 'theft'?
I hope it all gets sort for you this month. Best wishes for a happy resolution and for moving on...
 

Verity

Registered User
Messages
15
Thanks Mauritius. I am equally delighted for you and grateful for all your efforts because we are now where we are because of people like you who never gave up. Yes they really used our situation to their benefit and worse still kept taking the payments when accounts were clearly identified as impacted. This is the very definition of theft. I wish you the very best and am so pleased that your redress has come through at last. Thanks again for taking the fight to them.
 

bowser

Registered User
Messages
23
Morning all, I also phoned KBC this morning. I received a letter on 5th January confirming I was deemed impacted. The guy confirmed that our rate will be restored during February in time for 1st March payment. Further correspondence regarding redress and compensation will be issued by end of March. I can't believe it!! Thank you so much to everyone who fought so hard for this.
 

Ice Berg

Registered User
Messages
20
I too phoned KBC for my own Sanity re letter of the 5th Jan. Rate restoration for March instalment. They did say could take 2 weeks before letters are sent in relation to this . They could not give any further information. Over the moon. Tks to all who fought the battle but the war will continue.
 

Westie32

Registered User
Messages
27
Hi All, I called this morning too, rate restoration for March instalment, I am so happy I cant believe it. Letter to follow with more information. Thanks so much to everyone who fought to make this happen. Hope you all get some good news in the coming days.
 

shnethb

Registered User
Messages
28
I also phoned this morning on the back of the news people are getting...we drew down our mortrage in Feb of 08 Fixed rate. She said there was no decision made yet on my account and it could be a couple of weeks yet.......Has anyone in this cohort had positive news yet?
 

Westie32

Registered User
Messages
27
Yes, I signed my loan offer in Feb 2008 fixed rate - got good news today. Hopefully you get some good news soon Shnethb.
 

shnethb

Registered User
Messages
28
Congrats Westie31. Getting a bit nervous now wondering why they are still reviewing mine if other similar positions are been granted...
 

Westie32

Registered User
Messages
27
Thank you. Maybe call them again Wednesday see if there is any update. I am sure if you got the letter you have nothing to worry about. Fingers crossed....keep us updated!
 

PJDCol

Frequent Poster
Messages
134
I also spoke to KBC today and they also confirmed that my tracker will be restored in March also.

Can't believe it - I have waited 8 years for that phonecall :)

Also thanks to everyone involved.
 
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