KBC KBC statement on tracker redress

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Mine is 2008, I only have the email at the moment will check the post box later and post, to see if it differs from the email.
 
Hi All as agreed.

I checked the post box when I got home and this is a copy of the letter and wording.

My mortgage start date was feb 2008 fixed for 3 years ending feb 2011. So not all pre 2006 letters today.

Hopfully a few opinions on the wording. Is the the same as others?
 

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I believe the letters received today are a disgrace! Basically teasing people. Telling them they are impacted on one hand then in the next line stating they will write to the individual before June stating level of compensation (IF ANY).

If I get one of these it will go straight in the bin.

I believe this is nothing other than a stalling tactic.

I'm wondering also so many cohorts of KBC are affected! Are they figuring out which cohorts will cost them the least money and declaring those accounts impacted and the larger cohorts truly affected as not impacted.

Why else would KBC have done a turnabout on the accounts who willingly (or had no choice) gave up the tracker. Don't get me wrong I'm delighted for anyone who is fully declared impacted and receives their cheque immediately but something here is not quite right!
 
Lightening said:
I believe the letters received today are a disgrace! Basically teasing people. Telling them they are impacted on one hand then in the next line stating they will write to the individual before June stating level of compensation (IF ANY).

If I get one of these it will go straight in the bin.

I believe this is nothing other than a stalling tactic.

I'm wondering also so many cohorts of KBC are affected! Are they figuring out which cohorts will cost them the least money and declaring those accounts impacted and the larger cohorts truly affected as not impacted.

Why else would KBC have done a turnabout on the accounts who willingly (or had no choice) gave up the tracker. Don't get me wrong I'm delighted for anyone who is fully declared impacted and receives their cheque immediately but something here is not quite right!
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Hi lightening

Could you expand on your last paragraph. I get your frustration.
 
Darn40 said:
@Sanparom
I’ll email them do I ask them anything in particular
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Give them your mortgage account number and tell them you are writing to find out if your account is part of the review. Also says what it states in your contract re going to prevailing variable rate after fixed rate. Let us know what they say. Good luck.
 
I got similar letter today in the Post - Belong to a group of accounts considered Impacted it states. I was tracker from 2004, then Fixed for 3 years in May 2007 and reverted to SVR. Im of the belief they are not ready with the exact calculations(That bit may sound obvious).
 
ask2017 said:
I got similar letter today in the Post - Belong to a group of accounts considered Impacted it states. I was tracker from 2004, then Fixed for 3 years in May 2007 and reverted to SVR. Im of the belief they are not ready with the exact calculations(That bit may sound obvious).
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Hi ask 2017

Your message seem a little confusing.

Th flyer of nov 2006 says Discounted Variable rate Discontinued, and many posters here say there was no such product available SVR that is in that time. If you went back to a SVR how is this possible. But yet I got a new mortgage in March 2008 with as a tracker. Just to note I hold 2 loans with KBC for clarity. 1 was always Tracker and the other started on a fixed 2008, which I mentioned in today post.
 
I took out a mortgage on Tracker in 2004, the flyer of November 2006 does not apply to my circumstances. In 2007 I signed the fixed rate instruction for 3 year fixed rate, with the wording thereafter "reverting" to the standard variable rate. At the end of 3 years I was placed on a product rate "Standard Variable rate"( I have no idea when this rate emerged) I went to the FSO after 2010 when KBC refused me to go back to Tracker and no surprise the ombudsman ruled in favour of KBC. Today I received the letter as a few above have also which considers me as impacted.
 
ask2017 said:
I took out a mortgage on Tracker in 2004, the flyer of November 2006 does not apply to my circumstances. In 2007 I signed the fixed rate instruction for 3 year fixed rate, with the wording thereafter "reverting" to the standard variable rate. At the end of 3 years I was placed on a product rate "Standard Variable rate"( I have no idea when this rate emerged) I went to the FSO after 2010 when KBC refused me to go back to Tracker and no surprise the ombudsman ruled in favour of KBC. Today I received the letter as a few above have also which considers me as impacted.
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Hi Ask2017
Your post is very interesting in that you signed a KBC fixed rate instruction in 2007 "reverting" to the 'standard variable rate".

At the same time KBC were issuing fixed rate contracts expiring to the 'lender's prevailing variable rate'. (no standard variable rate applied in 2007, the LPVR was the tracker rate with margin specified by the broker flyer/communication)

At the same time they were issuing variable (tracker mortgages) describing the interest rate as 'the lender's prevailing variable rate", but
stating if for whatever reason the refi rate is not available the Home Loan Variable Rate will apply.

We have also seen on here a fixed rate contract of 2008 rolling to the Home Loan Variable Rate

 
Hi, Yes I believe the 2007 Fixed rate instruction i signed is quite Infamous, The Financial ombudsman rejected me on the grounds of this form - Shame on them. The FSO believed it was clear and unambiguous !! My original contract after referring to my tracker rate for the lifetime of my loan does go on to say in the special conditions that if for whatever reason Refi rate is not available i will go onto a Homeloan Variable. The "revert"(Yes I based part of my argument to FSO on the fact that revert means to go back to which is why exactly I'd like to revert I argued to my contractual tracker) to Standard Variable Rate was a sham as there never was a Standard Variable Rate as we now know.
 
Lightening said:
I believe the letters received today are a disgrace! Basically teasing people. Telling them they are impacted on one hand then in the next line stating they will write to the individual before June stating level of compensation (IF ANY).

If I get one of these it will go straight in the bin.

I believe this is nothing other than a stalling tactic.

I'm wondering also so many cohorts of KBC are affected! Are they figuring out which cohorts will cost them the least money and declaring those accounts impacted and the larger cohorts truly affected as not impacted.

Why else would KBC have done a turnabout on the accounts who willingly (or had no choice) gave up the tracker. Don't get me wrong I'm delighted for anyone who is fully declared impacted and receives their cheque immediately but something here is not quite right!
Click to expand...
Hi Lightening

I’m wondering what is the timing of your mortgage arrangements, you have been a Becon to the rest of us.

Just wondering why you didn’t receive the letter today,

Hopfully tomorrow.
 
Rakitom said:
Hi Lightening

I’m wondering what is the timing of your mortgage arrangements, you have been a Becon to the rest of us.

Just wondering why you didn’t receive the letter today,

Hopfully tomorrow.
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Hi Rakitom

I'm not the only one who has not received a letter on this thread. The letters will go out in batches depending on the cohort. But there are some accounts that won't fall into a cohort or will fall into a small cohort that won't be mentioned and need to be dealt with individually.

I drew down mid 2007. Right in the thick of it. Given no option to return to tracker. On Svr since. Simple in one way but got dirty in another. It's been ongoing for 9 years.

I'm impacted for sure.

I have been very active on this thread because I know certainly in my own case exactly what has happen here and I'll fight it all the way.

I am not going to go into my minor details. If I state the details I might as well put my real name on this thread.

Like yourself I have more than one mortgage which offers me a bigger picture. Apart from that I know how badly I have been treated by KBC, And can only imagine the pain that others have suffered at the hands of this bank.

In terms of what I see going on at the moment KBC are always one step behind.

They are like the chameleon

"Chameleons do not have ear opening or outer ears, but they are not deaf. They can detect sounds in the frequency range from 200 to 600 Hz. The best known characteristic of chameleons is their ability to change the color of the skin. Most people believe that chameleons change their color to blend in with environment."
 
I drew down Feb. 2008 and never offered a tracker at any stage, I rang KBC last week and was told I was definitely impacted and would receive a letter by end of January-still no sign of it. By all accounts the letters people are receiving this week are just stalling for more time and mine will probably be the same, its so infuriating-are KBC the only ones dragging their heals on this all the other tracker forums relating to AIB,BOI ETC seem to be getting results?
 
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