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

peemac

Frequent Poster
Messages
639
I decided I'd call too.

Yep, rate being restored from 1st March - still feels surreal to hear it from kbc themselves.

Seems the tracker staff are enjoying telling people this, as up to now they've had a pretty crappy job telling people there was no news.

And remember, the frontline staff themselves are not to blame in anyway for any of the issues.

Still can't believe this day has arrived.
 

Clara16

Frequent Poster
Messages
95
I just caved in and called no real update. I was told my rate would be amended hopefully in time for 1st March payment, but they couldn't advised what rate it would be. Then he said please hold while I check your contact, (60 second pause) and she said I can't tell from your contract but rest assured we will communicate before Feb 20th which is the last date for KBC to amend 1st March payment. its going to be a long 2 weeks.
 

..MC..

Registered User
Messages
41
I couldn’t resist ...called also .... rate to be changed for March ! Couldn’t tell me what rate but also said I would get a letter with information.
 

PJDCol

Frequent Poster
Messages
134
Hi @lighening, did they confirm they letter will be out in 2 weeks to you over the phone today?

I'm away in 2 weeks :(

Thanks
 

Clara16

Frequent Poster
Messages
95
@PJDCol I was advise letter would be received by 20th, if it isn't he said please call us back we will be able to tell you over the phone. as peemac said staff extremely friendly in a very strange way!
 

Cushcam

Registered User
Messages
41
I got a letter on Jan 05th, saying I was considered as being impacted, but wasn't able to get a definitive when I rang today, and certainly wasn't told that I'd be getting a rate change from March 01st. Due a call back tomorrow, as she needed to check why there was nothing showing on her account with her SME.
 

shnethb

Registered User
Messages
28
I got a letter on Jan 05th, saying I was considered as being impacted, but wasn't able to get a definitive when I rang today, and certainly wasn't told that I'd be getting a rate change from March 01st. Due a call back tomorrow, as she needed to check why there was nothing showing on her account with her SME.
Same with me when I called them today. Perhaps our cohort has not been fully reviewed yet. I drew down feb 08
 

Gavin77

Frequent Poster
Messages
75
I Phoned today also, they said my morgage has already been adjusted. €280000, 30 year morgage 14 years in ( 2011 came off 5 year fixed on to variable) my repayments were €1440. Was on 4.25 interest rate now 1.1 They said now are going to be €1111.46. Thoes with better knowledge of rates does that sound right??? They said letter should have been issued will receive something in the post soon.
 

peemac

Frequent Poster
Messages
639
I Phoned today also, they said my morgage has already been adjusted. €280000, 30 year morgage 14 years in ( 2011 came off 5 year fixed on to variable) my repayments were €1440. Was on 4.25 interest rate now 1.1 They said now are going to be €1111.46. Thoes with better knowledge of rates does that sound right??? They said letter should have been issued will receive something in the post soon.
That would suggest that they are simply applying the tracker rate to the current balance and giving you a refund of the overpayment rather than reworking the mortgage and reducing the balance in part.

At a guess, your current mortgage balance is about €190,000
 

..MC..

Registered User
Messages
41
Hi Gavin,
Congratulations!
Great to hear of an updated account ... do you know which cohort you belong to?
MC
 

Gavin77

Frequent Poster
Messages
75
Thanks peemac yes it would now be about 190000. Now.
MC... I have no clue as to what cohort they have me in.... I got a tracker mortgage in 04 fixed in 06 for five years... and then was laughed at when I asked for my tracker back.
 

peemac

Frequent Poster
Messages
639
Thanks peemac yes it would now be about 190000. Now.
MC... I have no clue as to what cohort they have me in.... I got a tracker mortgage in 04 fixed in 06 for five years... and then was laughed at when I asked for my tracker back.
I calculate that you overpaid by about €35-€40,000 in the last 6 years.
 

Eilish

Registered User
Messages
16
Congratulations everyone. It's lovely to see lots of good news coming through. Hopefully lots more on the way too.
 

Cushcam

Registered User
Messages
41
Just to clear up any confusion, I too received the same consistent message as all of the above, when KBC rang back this morning. Not sure why the uncertainty when I rang yesterday - My guess was that part of the loan was already on a tracker, causing a wee bit of confusion. One small step for bank, one giant leap for Cushcam!! After 9 years of prioritising creche costs, mortgage costs, & living costs, the extra wriggle room created from this interest rate decrease, even in today's improving economy, would bring a Godzilla to tears.
 

Lightening

Frequent Poster
Messages
319
There is huge movement going on today with KBC. I too got a call this morning to say back on tracker from 1st March. I'm expecting original margin. Will have a letter confirming this next week.

Let's not forget that Padraic Kissane has been working tirelessly for years on KBC and produced the "flyer" which appeared on RTE news in 2016. It was called a red herring by some but Padraic came up trumps. KBC finally met him last week for the first time! I have no doubt that many now confirmed impacted would not be in that position but for him.

I want to thank Padraic for all his work.

To the cohort deemed not impacted who drew down during the flyer period or indeed who applied during this period don't give up hope. Get in touch with Padraic Kissane now he is by far the best expert on the whole tracker scandal and I believe it's not over yet. His staff are well up on KBC also and they will get back to you. They are working round the clock.
 
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