KBC KBC update December

PJDCol

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134
Well it says: "These related to new mortgage applications in the period November 2006 to February 2008"

I assume February '08 was the time they started to remove tracker mortgages so maybe you need to ring or email them to find out - the number and email address are in the link above.
 

grock1982

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63
June 2008, it was iib homeloans. I have the document in fronto of me. I guess we are outside this 650 figure anyway?
 

Johnc6

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34
Hi We drew down mortgage from IIB, Nov 05 fixed for 2 years we were not offered tracker Nov 07 only fixed or variable offered then, called today still not part of 650. Any views if it should be in the next review
 

grock1982

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63
To the best of my knowledge our broker gave us an option of getting a tracker but we chose fixed. This was April 2008 and we drew down in June. I can't see how our contract with iib would be any different to those who drew down in February 2008????
 

Lightening

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319
To the best of my knowledge our broker gave us an option of getting a tracker but we chose fixed. This was April 2008 and we drew down in June. I can't see how our contract with iib would be any different to those who drew down in February 2008????
Totally agree!!

This shower are moving the goal post!!

The home loans too that drew down on fixed are being included but not the investments! Don't see how they can get away with that !
 

peemac

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622
In fairness, their statement today has been the most forthright they have ever given and fairly detailed in regards to most customers and for me, its as good as getting the letter as I (and most others here) fall into the second cohort of taking out a tracker and fixing in 2006.

This is the first time they have openly said these customers will be returned to tracker.

Its gone on for over 8 years for me, there's 10 years left on my mortgage. A few weeks more will make little difference as I'm now 100% confident my mortgage will be back on tracker and a 60k+ cheque is coming.

This is the part I particularly liked -

"While taking into account its legal and contractual commitments, in making its determination the Bank’s approach has been to ensure that the balance of consideration is in favour of the customer."
 

DamC82

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155
Any chance if I called tomorrow I'd get a definitive answer on weather or not we are in the cohorts ? Reading today's statement I cannot see how I wouldn't be, however it would be fantastic to get a concrete response pre Christmas..
The redress etc would follow in due course , nice to know it's coming
 

roan

Registered User
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14
The cohorts have changed since end October. I agree there is some "jiggling" around of the cohorts.

Anyone that was moved off a tracker by KBC should be returned. Those now that signed the fixed rate stating on expiry they would go to the Standard Variable Rate will now it appears be returned to the tracker they were originally on.

However those that drew down on the fixed rate November 06 - 08 are also being returned to tracker. (Kbc stating they were originally to roll to a standard variable rate is not the case and they continue to interpret the wording used in the contracts in their favour)returning the home loans and not returning the investments is unethical.

However it's not over yet!
 

peemac

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622
I'm preferring to be surprised some day by getting the letter. :)

Not sure what I'll do, but it will be celebratory.

Ringing them would ruin the moment I've looked forward to for 8 years.
 

grock1982

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63
I found the documentation that our broker sent to iib in April 08 and there was a box which we could have ticked for "tracker". Based on this I can't see how kbc now have February 08 as the cut off point. We fixed in 08 for 5 years.
I will definitely challenge them on this.
 

peemac

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622
I found the documentation that our broker sent to iib in April 08 and there was a box which we could have ticked for "tracker". Based on this I can't see how kbc now have February 08 as the cut off point. We fixed in 08 for 5 years.
I will definitely challenge them on this.
But did you tick it?

There is a cohort who think they are affected and have almost convinced themselves, but in absence of any written documents or without a description within the documents saying "tracker" or xx% above refi rate, it will be a difficult path to follow.

Most of those affected had a tracker and were encouraged by the bank to move to a fixed rate.

Without originally having a tracker or being in the timeframe of the broker communication, it will be hard to find an angle.

Not saying there's no hope, but I wouldn't be getting excited.
 

Lightening

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319
Grock1982/peemac

But did you tick it?

There is a cohort who think they are affected and have almost convinced themselves, but in absence of any written documents or without a description within the documents saying "tracker" or xx% above refi rate, it will be a difficult path to follow.

.
I disagree with this! You need to know the cohorts thoroughly to understand.

Padraic Kissane and John Mcguinness are on Pat Kenny right now. The numbers are growing and everyone that has an issue with this will get a resolution.

It will be ongoing into 2018.

contact Padraic Kissane
 

grock1982

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63
I might be still be affected, hopefully. Can't see how they can include customers in Feb 08 and not customers in may/ June 08.
 

PJDCol

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134
Well didn't they start removing the tracker rate as a product in 2008. I have idea what date but they can't be that stupid to be so specific on dates. This was probably agreed with already by the central bank before releasing the statement. You need to contact them, most likely through the complaints department, to get a definite answer. Its a painful process.
 

Lightening

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Messages
319
@grock1982/peemac

But did you tick it?

There is a cohort who think they are affected and have almost convinced themselves, but in absence of any written documents or without a description within the documents saying "tracker" or xx% above refi rate, it will be a difficult path to follow.

Most of those affected had a tracker and were encouraged by the bank to move to a fixed rate.

Without originally having a tracker or being in the timeframe of the broker communication, it will be hard to find an angle.

Not saying there's no hope, but I wouldn't be getting excited.

Peemac ! Is this your case (because the broker said the fixed rate would return to tracker) ?

Brendan Burgess today thread
"Who got good news and who got bad news"

KBC customers – c.2,500

Their legal position was clear. When they signed the fixed rate agreement it said that they would lose their tracker rate. However, KBC told brokers that they would be going onto trackers

This was due to Padraig Kissane’s work in particular

KBC didn't stop doing trackers till end November 2008
 
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