Yes. On Nov 7th 2006 IIB homeloans wrote to brokers to state that all fixed rates would now roll on to 1.25% tracker.Hi The letter of offer was 25th Oct 2006 and loan was drawn in Dec 12th 2006 and not Nov 2006, are the dates relevant?
Many thanks
Many offices are closed, but most people are working from home - send him an emailHi How does one get in contact with Padraig Kissane, his office is closed and obviously off due to Covid?
400 is quite a small group in the overall scheme of things. I think this cohort is the last group that has a reasonable chance of success. You can give brief details about your case and either I or someone else will give an opinion based on what we've leant over the past 12 years.Hi All, I am new to this forum, however it would be great to know if the ombudsman has kbc in focus at the moment, I was just wondering as I hadn't heard much about it lately and given the fact there is such a large group, I had hoped it would be prioritized
That's why this forum is here. I was the new poster posing the questions back in 2008! Many other posters are experts in relevant fields and others have built up knowledge over the years and share that.Hi Peemac, Many thanks for direction on this, I have got more information here in 24 hours that in 10 years talking to KBC.
Check the precise dates. A day or two out can make a big difference.
After Nov 7th drawdown and you have a strong argument.
Before Nov 7th drawdown and you have a weak argument.
In relation to the original advice of fixing, it probably was right for the time as rates were increasing.
The main tracker issue came because people who were on trackers (incl me) switched to fixed rates in mid/late 2006. So broker advice was good at the time.
It's what rate you were to go to after the fixed rate that needs to be worked out.
At a tracker meeting run by padraig kissane about 3 years ago this came up.Hi peemac, I drew down on 1st of November 2006 on a 3 year fixed rate (special condition ..no other option given). Looks like I'm falling outside the timeline . Deemed not impacted by KBC?
The difference is I had tracker from day one and it stated "for lifetime of mortgage" in the primary mortgage document.Hi Peemac, my case is similar to yours . Drew down on variable and moved to tracker 6 months later , have the ECB refi rate gurantee letter , fixed in late 2007 after the unsolicited letters started coming through letter box . and the rest is history . Deemed under investigation but not impacted . With Padraig a couple of years .
We did have approval with tracker option but looking for single application dual title which they refused at the 11hr (I already had a property and did not want to get caught for stamp duty).At a tracker meeting run by padraig kissane about 3 years ago this came up.
Seems that by only offering a fixed rate, a bank could offer a higher multiple of earnings as a mortgage.
So possibly you would not have been offered the mortgage if you wanted a tracker.
And unfortunately it does look like you fall out of both cohorts - the cohort that got a tracker and those skirting between the applied date and drawdown date of after Nov. 6th
Sorry I can't give more positive news
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