KBC rate reduction??

toodelies

HI all,

just wondered if anyone has heard whether KBC are going to pass on yesterdays reduction?? I am in the unfortunte situation that i can't move mortgage providers (lost job, got new one with 50% less wages so no other lender will look @ me :rolleyes:) so am stuck with KBC for the foreseeable future. haven't heard whether they are going to pass on the reduction... any one heard anything??

thanks

Pablo Sanchez

They are 'reviewing' the situation. Ulster Bank/First Active announced they will not be passing it on.

Im with KBC (luckily on a tracker though) and they are generally the last to announce what they are to do, wouldnt be suprised if they didnt on this occasion im afraid.:(

bishopado

I have still not been able to find out - when they did pass on some of the recent cuts they announce immediately - this delay is a worry and I think it would be a disgrace not to pass on

Pablo Sanchez

The simple fact is that they are losing money on the tracker mortgages at the mo, as is every lender, they probably borrowed the money at a higher price than they sold it to you for.

Your right, it is a disgrace, despite all of the defaults and repossessions, they still made over 100m profit form their Irish operation in the last 12 months.

bishopado

Has it been actually confirmed yet whether or not KBC is passing on the rate cut to variable rate customers - cant seem to fund a decent website that supplies this info

toodelies

OP again. still no news on this. anyone heard anything? the fact that they haven't announced anything is making me nervous. with the cut in wages yesterday it would be nice to be able to factor in the reduction in mortgage...

toodelies

got the answer for anyone interested: Tracker holders only are getting the reduction. those on variable are not getting any reduction. i can't believe it... i note the way this has not been advertised though on their website...

billyblanks

toodelies wrote: »

got the answer for anyone interested: Tracker holders only are getting the reduction. those on variable are not getting any reduction. i can't believe it... i note the way this has not been advertised though on their website...

Bastards.....

Where did you hear this? I contacted them yesterday, the told me they were 'waiting for a decision'

toodelies

:(I phoned them again this afternoon and that's what I was told... i can't effin believe it. how the hell are they allowed to get away with it when essentially our wage packets are being reduced to bail them out? i don't get it. as it now stands i would be better for me to quit work, go on the dole and claim mortgage interest relief. my wages are less than the welfare benifits combined after yesterday. if the reduction had been passed on i would be there or there abouts.

billyblanks

Thanks toodelies...

Just sent them a 'nice email' thanking them for robbing my money.

Again...bastards...

toodelies

I emailed a letter to the editor of the independent. they probably won't print it but i feel marginally better after ranting in it... god i wish i could change banks...

billyblanks

I emailed a letter to the editor of the independent. they probably won't print it but i feel marginally better after ranting in it... god i wish i could change banks...

Fair play toodelies

Maybe I should just reduce my payment by 0.25%..... tell KBC I reduced my mortgage payments to match the recent ECB reduction...

toodelies

i was thinking that too, would serve them right. you'd think that they didn't want to keep business with that carry on... apparently AIB haven't announced their intentions either.. then again their rate is alot lower...