KBC told brokers" all fixed rate loans will roll onto trackers on expiry"

Discussion in 'Issues with tracker mortgages' started by PadKiss, May 12, 2016.

  1. Gavin77

    Gavin77 Registered User

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    Not 100% sure. But would really love to know how strong it would stand up. Or if it's even recognised by central bank. I did mention it when I asked td's to ask questions the 4th April. I got in touch with local td who sent me on another address to mail. As well of a list of questions I put that one in. He replied and said he would.
     
  2. DamC82

    DamC82 Frequent Poster

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    Did you fix in 2006/7 Gavin, are you included in the review? Does your contract state you should have been returned to a tracker?
     
  3. Gavin77

    Gavin77 Registered User

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    Yes fixed in 2007. No it didnt state revert to tracker. But also didnt state by fixing it would forfeit my tracker. Yes I am part of the review was notified last may.
     
  4. Lightening

    Lightening Frequent Poster

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    @Gavin77

    It didn't say you would roll to the SVR either!
     
  5. DamC82

    DamC82 Frequent Poster

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    did you take a tracker originally? I didnt yet am still in review....which is strange
     
  6. Gavin77

    Gavin77 Registered User

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    Yes I had a tracker originally. No matter what way you look at it we were shafted Lost with the ombudsman because I didn't seek legal advice. Seek legal advice on a letter from a bank that was supposed to be working with me not against me. Not making the same mistake again Seeked advice this time round and was told I have a case.so just the waiting game that's a long gruelling wait.
     
  7. DamC82

    DamC82 Frequent Poster

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    Good man . Best of luck
     
  8. Gavin77

    Gavin77 Registered User

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    Last edited: Mar 30, 2017
    Every case is different and unfortunately this time round our voice isn't clearly heard. They will be scampering through the wording for technicalities to whittle out of this so yes luck definitely needed for all and hopefully soon.
    My gut is telling me that they have given it to whom the they have picked and notified all ready and they are appealing the central banks decision to give to us.its just because ages ago kbc told me they had completed phase 2 and were just waiting on the go ahead from central bank now they're telling me they are still in talks with central bank regarding phase 1 and 2. Could be completely wrong but that's my gut.
     
    Last edited: Mar 30, 2017
  9. Leighlinboy

    Leighlinboy Frequent Poster

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    I just cant see how they are finished phase 2 with just a handful of cases being restored , aib have identified more scenarios to be restored than KBC have physically restored customers ! They have been miles behind at everystage , the only way they have caught up is if they are stonewalling every instance immediately , how are they getting away with only restoring a dozen ? It was systematic widespread practice everyone in the review has been proven to deliberately be not restoring them in some way or another .

    My gut still isnt great either Gavin77 , rang them today and spoke to a girl for a while , first time in 3 mths , much more info in the new script than previous, mine had been looked at but no decision had been reached . Got the impression they were utisiling the September deadline in its full, and they maintain they are fully entitled to do so, so if blank everyone this will go on forever .

    They said part of delay is having to get the third party to sign off on what they decided before going back to central bank in september .

    Also added me to a distribution list for updates and id get something either positive negative at end of .

    Just because i havent been contacted yet doesnt mean i wont get positive outcome i was told .

    I do also know others heard it the complete opposite on this thread and phase 2 was finished , we will have to believe/trust in parameters of review and subsequent appeals process
     
  10. Mauritius

    Mauritius Registered User

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    Phase Ⅱ is not finished. I had another letter from them on Friday. They are in the middle of Phase Ⅱ and will be connecting "impacted customers as soon as possible" but the deadline date is not until Sept 2017.
     
  11. Gavin77

    Gavin77 Registered User

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    Ph kbc yesterday, no update what so ever. Referring back to last update from central bank and that they have until September.
     
  12. Leighlinboy

    Leighlinboy Frequent Poster

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    The waiting game continues .....
     
  13. Leighlinboy

    Leighlinboy Frequent Poster

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    Taken from todays Q1 results .............first word in ages spoken on the matter

    It also said it continues to work with the Central Bank on the Tracker Mortgage Examination until it reaches its conclusion.

    "Following completion of this examination, we will then make further contact with the affected customers to finalise the review for these customers," Wim Verbraeken, the bank's chief executive, said.
     
  14. Onceagain

    Onceagain Frequent Poster

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    No time lines, it really is a disgrace. Peoples lives hanging in the balance.
     
  15. PJDCol

    PJDCol Frequent Poster

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    Yes the timeline (set by CBI) is essentially September so I don't expect to hear anything until then.

    Realised a long time ago banks make decisions based on their balance sheet impact and nothing else.
     
  16. DamC82

    DamC82 Frequent Poster

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    Anybody get the generic letter at the end of April? First time Ive ever received anything without requesting it... Not that its any big deal...
     
  17. Leighlinboy

    Leighlinboy Frequent Poster

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    Yes I got one along with some mortgage docs i requested a few weeks back nothing new to what had been said on the phone I dont think ? They said on phone that they are entitled to wait til September as per parameters of the review, so I wouldn't be expecting to see anything before then really, as frustrating as that is as all other lenders seem to be miles ahead .
     
  18. PJDCol

    PJDCol Frequent Poster

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    Rang today as I do at the end of every month and got the same response that no letter is due until end 30th September. I did get a comment that they hope to have letter out "sooner rather than later" but that probably means the 29th of September to these!!!!

    I asked for their view if they feel if the outcome would be positive or negative for customers. But again they could not answer as they haven't received the Phase 2 package back from the Central Bank and it is taking a lot longer than expected.
     
  19. peemac

    peemac Frequent Poster

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    It's a very frustratingly long wait and I and others expected it to be resolved before now

    On the positive side it suggests that the CB is going through everything thoroughly and going by their work to date, that can only be seen as a positive.

    For most of us it's now 8 years of paying over the odds.
     
  20. Leighlinboy

    Leighlinboy Frequent Poster

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    Apologies guys adding nothing majorly new here .
    Am i right in saying KBC are the
    Only bank in the review on this forum where there hasnt been a positive response of any description as of yet ?

    September is only a few weeks away now , other lenders are as always miles ahead in this process ...