There is no possibility of anyone in kbc giving any information whatever and customer relationship people will just give a pr answerI still have not heard or seen anything about KBC. I spoke again to their customer relations management but they also have heard nothing. They asked if I wanted to lodge another complaint about them not replying but that is probably irrelevant at this stage.
For the sake of a few months I'd stay - I just reckon the August+ ones will be dealt with first, but both the paperwork and the tiny timeframe given to avail of "special rates"- in some cases just 7 working days from time of receipt of fixed rate instruction to deadline is just unreasonable and probably in in breach of the previous code of conduct.We ended up fixing from a tracker with KBC before august 2006, think it was July. We were very naive and green at that time regarding this issue and didn't realise we were loosing our tracker by doing so. Do you think because we fixed in July 2006 before the code of conduct came in that it will go against us or will even be looked at if they are going by when the code of conduct came in , in August 2006. Also, should we stay with KBC until this issue resolved fully as we are tempted to move with all the different offers that are around now for switching?
If you follow Central Bank over the years can I suggest ;Hi P...maybe the recently announced Central Bank review of practices across all banks regarding tracker products might bring some hope of justice to the thousands of mortgage holders who have been shafted by the banks.
If you followed how the new head of the central bank has operated since he took over just a few months ago and the very distinct change in attitude to how the consumer must be treated and how the consumer SHOULD have been treated in the past, you'd have a lot of hope.If you follow Central Bank over the years can I suggest ;
1.Stop thinking Central Bank has consumers interest @ heart .
2. Even a cursory look @ central banks antics over the years ,show they are against you .
3. like most wafflers they appear to be on your side .
4. If they were any good Padraic Kissane (consumer champion ) would be redundant !
KBC are a belgian bank and therefore would not mention anything in what is effectively a PR release. In the overall scheme of things, if say the amount was €25m for KBC it would not aterially affect the overall financial outlook of its parent company, so it would not need o eb provisioned for as a specific item.I will still be very surprised if anything happens, and if any hope emerges of something that might happen then it will be a further extremely long and painful process. With my last contact with KBC they briefly mentioned to me that there is a difference between the recent cases won (PTSB, etc) and KBC so they have obviously been informed in some way and are going to fight it. Also KBC had their first quarter earning release this morning and no mention of it, unlike with say AIB who have provisioned for it.
Hi Padraic,Hi all
Rte News tonight at 9 o clock Breaking news on KBC and the Tracker mortgage issue. Sorry for the late notice Padraic
I mailed them just to even see if I could get confirmation that I was to be included in the central bank review, received letter stating that my mortgage is being considered as part of this , review won't be concluded before sept 30th and they will issue and communications in due course that are required as part of the review .
It would be very unusual for a standard variable rate loan to be offered in 2006. Possibly it was a Variable rate loan in line with ECB refi rate?Hi Padraic,
My wife has a loan with KBC since 2006.
She was fixed for the period of June 2006 to June 2007 and fixed agin until 2010.
The loan was a standard variable loan, but as she was fixed in 2006, was she intended to be offered tracker in light of the letter in 2006 to brokers?