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

Discussion in 'Central Bank tracker review' started by PadKiss, May 12, 2016.

  1. Lightening

    Lightening Frequent Poster

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    Finance Committee Autumn Bank Hearings
    "SaySomething" has posted the dates for next meetings. KBC 28th September. Anyone effected by KBC should try and attend
     
  2. Gavin77

    Gavin77 Registered User

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    Kbc told me last week definitely won't make sep deadline many many months of work to get through was what she said.
     
  3. Mauritius

    Mauritius Frequent Poster

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    I just spoke to KBC and they said the September deadline set by the Central Bank will more than likely not be met. I told them I thought it was farcical at this stage to be extending the proposed deadline yet again. And yet again they are breaking their promise and this is going on indefinitely. He answered in his pre-programmed voice: "yes, you're right, I do understand it's frustrating" etc and "you are on our list of people to contact once we know more." Totally unsatisfactory and I reminded him that if it were the other way round, and it was running on for years, the banks would have instigated legal proceedings against the customer for possession by now. But we are powerless and just have to sit and wait and wait.
     
  4. Mauritius

    Mauritius Frequent Poster

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    KBC told me on the phone today that they won't be finished the second phase (Tracker Review) by end of this month as previously promised. They have not been able to meet the deadline set by the Central Bank. I suggested the whole thing has turned into an on-going farce that seems to have no conclusion in sight. He agreed. I said I would be writing to the Governor of the Central Bank to express my disappointment that KBC bank has not kept to their word. "You are on our list," he said, meaning to notify later this month that they haven't met the deadline. "Thanks." (click)
     
  5. DamC82

    DamC82 Frequent Poster

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    BANK
    ''MR C ,the deadline for payment of your mortgage is the first of every month.. "
    ME , "Ah don't think I'll make that , a lot of work to get through sure I'll give you a shout when I have it and we'll fix it up then .. not sure when it will be sometime down the road in the future .. indefinitely like."..
    BANK ... "Ah that's fine MR C , sure just send in a letter and then another letter to confirm you haven't done what you promised in the previous 3 or 4 letters, no repercussions"
    ..
    Can't see that working ??
    What a farce this whole thing really is...
     
    Gavin77, Gen360, Mauritius and 2 others like this.
  6. Sanparom

    Sanparom Registered User

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    Hi everyone, I'm new to this thread. I'm also a KBC customer (since 2005), unfortunately. I have requested a copy of my Terms of Loan 3 times now, each time I have been told it would be sent out, but it has never been. I have not been told that I am part of the review process, but is it possible that I am (given that they have been so cagey with me!)? I was on an interest-only fixed mortgage for 3 years. When I came off this, I was offered fixed or variable (I chose variable). I was never on a tracker, so do I have any case at all? I want to look at my Terms of Loan to see if there was ever mention of tracker, but they won't let me see the thing!
     
  7. gnf_ireland

    gnf_ireland Frequent Poster

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    I wonder if its worth you time attending the finance meeting and trying to contract some of the committee members in advance to allow them relay your story...

    I suggest that you should ask the committee members to put forward a new proposal "From the end of September (Central Bank deadline) until the review is complete, all banks must rebate 100% of the mortgage payments made by customers under review as a gesture of goodwill for the ongoing delays in the process. This goodwill gesture is to offset the ongoing delays on the banks side, and does not in any way impact the settlements to be reached"
    I wonder would this provide them with the sense of urgency around this issue...
     
  8. Mauritius

    Mauritius Frequent Poster

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    KBC haven't told me that it has been decided I have been impacted. So I can't assume there will be refunds on interest overcharged until they have told me so. I am writing to the Central Bank with an update and also to the Finance committee which I intend to go to. I think the KBC one is 28th September...... Not allowed speak at it though!
     
  9. Gavin77

    Gavin77 Registered User

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  10. Sligolive

    Sligolive Registered User

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    it is also unlikely that if the central bank identify anomalies that they will get involved in individual cases.....
     
  11. Lightening

    Lightening Frequent Poster

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    I know exactly what was included in our so called review following a data access request which revealed substantial amounts of missing info surrounding the tracker subject over the years. Crucial info being hidden by the bank so that the so called "auditors" for Phase 1 would not have seen it.
    So move on to phase II. Ye ye "your not included"
    Phase III surprise surprise "missed by the (same no doubt) " bean counter"

    Today at 8:06 AM
     
  12. Mauritius

    Mauritius Frequent Poster

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    Lightening that's shocking and highly illegal. They can't just leave out stuff (I know they do!) I've written to the Central Bank two days ago to tell them KBC informed me in the most casual -couldn't-be-bothered tone that they won't be meeting the deadline for end of September. And only when I rang and asked. I suggested to the Central Bank that they aren't running the show at all. The banks are doing what they like.
     
  13. jonjesk

    jonjesk New Member

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    Sanporam, read my other posts, i am in a similar status, never on a tracker but also never offered, looks like 2 main points 1. people who were on a tracker but were removed or never put back on when they should have been, these appear to have the stronger of the case. 2. people like me never offered trackers but there were flyers stating that was fixed rate period was finished all mortgages would go to tracker [see page 1 of this post] for me this falls exactly as my fixed rate ended. the point being is that they didnt offer people the most suitable service best advice etc thats how i understand it but it may not be wholly correct, however its such a large amount of money its worth persuing if though i feel the chance is low. But like all of these institutions if you dont question it, its unlikely that they will identify you as an 'affected' person, so good luck
     
  14. Mauritius

    Mauritius Frequent Poster

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    People who never had trackers mortgages and are now trying to get their hands on one is a reason why this whole process is going on and on indefinitely. Those who had trackers removed unfairly should be dealt with first.
     
  15. Lightening

    Lightening Frequent Poster

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    Mauritius unfortunately it is not as black and white as you suggest.

    Some people originally started on trackers will not get them back. Some people originally starting on fixed will get their trackers that they should have rolled to as we have seen with other banks.

    Some People who started on fixed did roll to trackers with KBC. They cannot do this for some and then decide not to continue this process for others.

    Some people knowingly removed themselves from trackers they originally started on and now want them back.

    Some people originally on trackers were not given the option to return to trackers given only the choice of fixed or variable however they were entitled to a tracker.

    I am sure I am not covering every situation.

    There are different scenarios.
     
    Wardy7 likes this.
  16. jonjesk

    jonjesk New Member

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    well said lightening, its about people being treated fairly, those of us that never had trackers are not clouding the issue. i have several letters that hard sell fixed rate mortgages that did not offer tracker, when dealing with a professional institution it is not a case of buyer beware, they had a duty to at least make the customer aware of all offers, they clearly didnt. if its found that in my case they acted correctly and that i do not fall in to this review then so be it,
     
  17. Lightening

    Lightening Frequent Poster

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    I'm afraid I don't believe for one minute that KBC will hand anyone back a tracker without a fight. There are cohorts and there are non cohorts involved here. From my own particular "ongoing" battle with this bank it's "continues" to be a huge snow job. I have asked on this website for Padraic Kissane to call a meeting for KBC customers as has happened for customers with other banks. There is a lot of info that needs to be shared amongst KBC customers and it's NOW it needs to be done. We need strength in numbers.
     
  18. Mauritius

    Mauritius Frequent Poster

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    I've absolutely given up at this stage. It's not worth having years of your life blighted by these charlatans. If it comes, it comes. But no more angry given to this. I've done all I can and I am not having it dictate how I live my life.
     
  19. Sligolive

    Sligolive Registered User

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    Lightening ...I fully agree....we need to think about how we can best group together.......it should not be beyond our wit to come up with some proposals....perhaps a Facebook group/ mass meeting etc....any other proposals....we need to think a bit differently!
     
  20. Mauritius

    Mauritius Frequent Poster

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    I've spoken to KBC a number of times over the phone about the Review and they have indicated that their list is longer than originally thought. Maybe I'm just an optimist but I believe there is a positive resolution coming for me. I would be very happy to go along to any group meeting. I'm not that interested into signing up to a FaceBook page where people can rant from their keyboards. There's power in numbers but no point in being anonymous. Let's meet and hear each other's stories.
     
    Wardy7 likes this.