KBC KBC says I am not impacted

Darn40

Frequent Poster
Messages
70
The wording in fixed contracts pre November 06 was at the expiry of the fixed rate period the lenders prevailing variable rate will apply

No mention of home loans variable or home loans renewal

We have being told that we are not in scope
 

peemac

Frequent Poster
Messages
641
The wording in fixed contracts pre November 06 was at the expiry of the fixed rate period the lenders prevailing variable rate will apply

No mention of home loans variable or home loans renewal

We have being told that we are not in scope
That's the unlucky cohort as the broker flyer had not being published and KBC seem to be fairly adamant that this group are not included as they never had a tracker nor any supporting communication to be able to expect a tracker or anything to give a specific tracker margin that could be called upon.

Theroectically they could say - OK, we'll give you a tracker, but it will be 3.67% which could be backed up by the cost of funds in 2009/2010 argument as AIB have done.
 

Jazzer1

Frequent Poster
Messages
143
Hi, I applied for my mortgage in jan/Feb 08 and drew down on the 6th march 08.my loan offer letter states in the last paragraph "At the expiry of the fixed rate period your loan will revert to I.I.B Home loans Rate.The I.I.B Home loans renewal rate is a variable rate and may be varied by the lenderfrom time to time in line with General market conditions....I rang kbc this morning and they said my account is not impacted. Do I not fit in with the Nov06 -Feb08 cohort of accounts?.
 

grock1982

Frequent Poster
Messages
63
Hi, I applied for my mortgage in jan/Feb 08 and drew down on the 6th march 08.my loan offer letter states in the last paragraph "At the expiry of the fixed rate period your loan will revert to I.I.B Home loans Rate.The I.I.B Home loans renewal rate is a variable rate and may be varied by the lenderfrom time to time in line with General market conditions....I rang kbc this morning and they said my account is not impacted. Do I not fit in with the Nov06 -Feb08 cohort of accounts?.
That's unusual because I rang kbc this morning and they said that they still reviewing my account. I fixed in June 08. They are giving this line with the past few months. I have the same special condition in my contract.
 

Darn40

Frequent Poster
Messages
70
Thanks peemac
Tracker was mentioned to me by the broker at the time, but Kbc were doing a fixed rate offer witch included solicitor fee, it was a solicitor of their choice, I was advised to go fixed for security didn’t think much about it at the time, I thought I would have options again after the fixed rate period.

How foolish was i looks like my ship has sailed
 
Last edited:

DamC82

Frequent Poster
Messages
155
There is no continuity. We drew down in January 07. Fixed from start, wording in the contract states that prevailing rate will apply at the end of the fixed term.

I have been chasing them relentlessly since December , they will neither confirm or deny that we are included in the 650. Its demoralising I wish they would just confirm one way or the other so we can decide where to take it.

Anybody with the prevailing rate wording received a letter confirming deemed impacted?
 

shnethb

Registered User
Messages
28
There is no continuity. We drew down in January 07. Fixed from start, wording in the contract states that prevailing rate will apply at the end of the fixed term.

I have been chasing them relentlessly since December , they will neither confirm or deny that we are included in the 650. Its demoralising I wish they would just confirm one way or the other so we can decide where to take it.

Anybody with the prevailing rate wording received a letter confirming deemed impacted?
No. Mine says "renewal rate"
 

doyler1

Frequent Poster
Messages
48
Hi, I applied for my mortgage in jan/Feb 08 and drew down on the 6th march 08.my loan offer letter states in the last paragraph "At the expiry of the fixed rate period your loan will revert to I.I.B Home loans Rate.The I.I.B Home loans renewal rate is a variable rate and may be varied by the lenderfrom time to time in line with General market conditions....I rang kbc this morning and they said my account is not impacted. Do I not fit in with the Nov06 -Feb08 cohort of accounts?.
Hi Jazzer yes I am in the same boat drew down mortgage Feb. 2008 fixed and then to variable my contract wording Is identical to yours and was told not impacted, I cant understand it- I think as peemac on here says its to do with the wording, I am gathering my info and documents for a complaint to the ombudsman.
 

Clara16

Frequent Poster
Messages
95
@DamC82 we applied to KBC directly in March 2017, drew down in Aug 2017 and received 5th Jan letter deemed impacted.
fixed for 3 years, contract says 'lenders prevailing variable rate will apply'
 

Jazzer1

Frequent Poster
Messages
143
Hi doyler1, there seems to be other people with the same wording as ours and they're accounts are deemed impacted. I did ask for a full explanation to the reason why my account is not impacted.
 

DamC82

Frequent Poster
Messages
155
@DamC82 we applied to KBC directly in March 2017, drew down in Aug 2017 and received 5th Jan letter deemed impacted.
fixed for 3 years, contract says 'lenders prevailing variable rate will apply'

Many thanks Clara, thats good to hear. Still hoping!
 

doyler1

Frequent Poster
Messages
48
Same here Jazzer1 asked them for an explanation in writing they said they would send one by post-still waiting on it.
 

peemac

Frequent Poster
Messages
641
looks like its not the wording, so its a mystery as to how people with identical contracts and identical timeframes have different outcomes.
 

Clara16

Frequent Poster
Messages
95
would KBC just have taken a sample of mortgages drawn down during the dates and those who received letters might not actually have a case; its all investigatory at this point. I'm wouldn't be surprised if we got a letter to say actually we got it wrong, your mortgage is as it should be.

did some else mention it was to do with Loan to value ration?
 

doyler1

Frequent Poster
Messages
48
would KBC just have taken a sample of mortgages drawn down during the dates and those who received letters might not actually have a case; its all investigatory at this point. I'm wouldn't be surprised if we got a letter to say actually we got it wrong, your mortgage is as it should be.

did some else mention it was to do with Loan to value ration?
Yes that was me Clara, when I was told I am not impacted I questioned the decision I mentioned that I knew someone who drew down on the same conditions as me and on the same date and they are impacted- KBC said it might be something to do with LTV and amount borrowed, I said you need to give a clear reason and I would like it in writing which I am still waiting on.
 

shnethb

Registered User
Messages
28
would KBC just have taken a sample of mortgages drawn down during the dates and those who received letters might not actually have a case; its all investigatory at this point. I'm wouldn't be surprised if we got a letter to say actually we got it wrong, your mortgage is as it should be.

did some else mention it was to do with Loan to value ration?
Im standing by the door waiting to receive the mistake letter Clara....
 

Sanparom

Frequent Poster
Messages
97
You didn't remortgage at any stage or anything, did you? No mention of tracker at all?? My contract says the same thing. I didn't use a broker either, but drew down in 2005. Still, if it's to do with that wording in the contract, how can they get away with fobbing those of us with 'prevailing variable rates' off?
 

Jazzer1

Frequent Poster
Messages
143
I just don't get It,
I thought my account met the criteria for being impacted
1. Took out 100% mortgage with Broker
2. Applied for it in Jan 2008
3. In timeframe of nov06 feb08
4. Same terminology in contract as others who have been deemed impacted
Maybe kbc are putting the ball back in our court to see what we'll do next and buy some time.
 

doyler1

Frequent Poster
Messages
48
You didn't remortgage at any stage or anything, did you? No mention of tracker at all?? My contract says the same thing. I didn't use a broker either, but drew down in 2005. Still, if it's to do with that wording in the contract, how can they get away with fobbing those of us with 'prevailing variable rates' off?
Sam -No re mortgage taken and I went through a broker, drew down Feb 2008, no tracker no
 
Top