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KBC - How are their rates when compared to others? Good to deal with?

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  • 13-10-2013 8:31pm
    #1
    uberalles
    Registered Users Posts: 836 ✭✭✭


    Ive two mortgage applications pending with BOI and Ulster.

    Im considering KBC as a third option and poss a Building Society as a third.

    Anyone know mortgage interest rates at the moment for AIB / BOI / KBC ?

    Anyone any experiences good or bad with KBC?


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    #2
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    uberalles wrote: »
    Ive two mortgage applications pending with BOI and Ulster.

    Im considering KBC as a third option and poss a Building Society as a third.

    Anyone know mortgage interest rates at the moment for AIB / BOI / KBC ?

    Anyone any experiences good or bad with KBC?

    Have a deposit account with them and really happy with them.
    Customer service i found was really good, you go in to open an account and they make you feel important!:)

    Don't know what they're like to deal with mortgage wise, but then again does anyone have any serious issues with their mortgage providers if they pay on time?


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    #3
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    KBC have some very good rates at the moment as they're seeking to expand in Ireland. They price by LTV a lot - what's the mortgage amount and property value?


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    #4
    uberalles
    Registered Users Posts: 836 ✭✭✭uberalles


    went in today and we through the paper work.

    <80% LTV - rate is 4.06

    This compares favourably with BOI and UB.

    But what scares me is ......... would they be very difficult to deal with if thinks went pear shaped?
    Would an Oirish bank be any more lenient with you?

    KBC ... who?

    Its just Im not used to the brand is all I suppose and as such wary.

    Unfounded fears?


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    #5
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    uberalles wrote: »
    went in today and we through the paper work.

    <80% LTV - rate is 4.06

    This compares favourably with BOI and UB.

    But what scares me is ......... would they be very difficult to deal with if thinks went pear shaped?
    Would an Oirish bank be any more lenient with you?

    KBC ... who?

    Its just Im not used to the brand is all I suppose and as such wary.

    Unfounded fears?

    They'd be safer than an irish bank.

    Things go pear shaped? As in you can't afford to pay back the mortgage.
    All mortgages have in there contract that your liable for the full amount no matter whether they're irish banks or not.


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    #6
    Munstermissy
    Registered Users Posts: 251 ✭✭Munstermissy


    I have my mortgage with them and find them very good to deal with. I was unemployed for a year and a half and was lucky enough to have mortgage payment protection which covered the first year. Went interest only for 6 months after that and they were very helpful and not demanding money when I was not in a position to pay full amount. Thankfully back working full time again.


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    #7
    uberalles
    Registered Users Posts: 836 ✭✭✭uberalles


    Scortho wrote: »
    They'd be safer than an irish bank.

    Things go pear shaped? As in you can't afford to pay back the mortgage.
    All mortgages have in there contract that your liable for the full amount no matter whether they're irish banks or not.

    Never had a problem with rent ever, but temp illness etc can happen.

    Currently the toughest rep bank would probably be UB I hear.

    Just planking it taking on a mortgage is all.

    Any back ground on KBC?


    Presuming the mortgage is identical.

    If BOI are 1100 over 24 years
    and
    KBC are 1228 over 19 year
    Diff is 128

    Mortgage amt is 3K difference in the two - so its quite close - lets pretend its the same.

    Ive calc the *saving like so ...

    BOI KBC
    1100 1228
    12 12
    24 24
    316800 353664 *36864

    Thats a big difference in KBCs favour


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    #8
    uberalles
    Registered Users Posts: 836 ✭✭✭uberalles


    From what Ive read they want to introduce some competition into the market.
    The Irish banks are wounded and need to hit everyone to get back into profit.
    They have lots of bad / non performing debt.

    KBC are relatively new comers to Mortages and are not wounded so to speak.

    Over simplified perhaps but thats what Ive gleaned.

    They are still the great unknown to me / not as familiar and Im naturally suspicious !


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    #9
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    They've been in Ireland for 40 years, under different ownership. Link.


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    #10
    Mort5000
    Registered Users Posts: 419 ✭✭Mort5000


    uberalles wrote: »
    Anyone any experiences good or bad with KBC?

    No online facility to check mortgage balance.
    Offer better rates to new customers while continuing to skewer their current suckers... sorry, I mean customers.
    Tracker mortgage tracks the ECB rate at their discretion and when you ask questions about it, you get some bullsh1t marketing lie answer about how expensive it is for banks to loan money right now.
    I'd move if I could.


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    #11
    uberalles
    Registered Users Posts: 836 ✭✭✭uberalles


    Mort5000 wrote: »
    No online facility to check mortgage balance.
    Offer better rates to new customers while continuing to skewer their current suckers... sorry, I mean customers.
    Tracker mortgage tracks the ECB rate at their discretion and when you ask questions about it, you get some bullsh1t marketing lie answer about how expensive it is for banks to loan money right now.
    I'd move if I could.


    Sorry to hear about you woes there.

    They are offering a rate of 4.06 <80% LTV.

    Im wondering if thats a limited time "discount offer" for x months. i.e. applies to the first 6 months of the mortgage. I realise a variable can go anywhere over the years.

    If I go with them I will go variable.

    If you could advise ... if you were a new customer

    Would you go with them at 4.06 variable
    Or BOI at 4.5 variable?

    Are they more likely to be unpleasant / unfair with their rates to me as a new customer versus BOI ? or are they all tied to the one rate.

    Mortgage n00b.


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    #12
    frebel
    Registered Users Posts: 108 ✭✭frebel


    Hey I've pondering the same about KBC over the last few days,

    have mortgage sanctioned from AIB and have cash to pay 20% of house value. Mortgage valuer has been to house and things are moving on steadily apart from a few issues relating to the engineer's report. AIB are my main bank and I have found them very good to deal with always getting prompt replies to emails etc. But....

    Their current rate of variable interest on 80% LTV is 4.29%
    KBC are now offering 3.99%

    AIB monthly repayments over 25 years would be 979
    KBC monthly repayments over 25 years would be 949

    Total Approx Cost of mortgage AIB = 293,749
    Total Approx Cost of mortgage KBC = 284,733

    Even the difference of 360 over one year is significant enough not to mind say
    over 25 years.

    So I'm consdering is it worth applying for KBC mortgage? Obviously,variable rates can be changed by either bank
    My fear as well is the KBC rate just a gimmick to get people to drawn down a mortgage with them and then raise rates? I notice they pay first year's house insurance as well

    Sorry uberalles, more questions than answers for you


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    #13
    Poinut
    Registered Users Posts: 1 ✭Poinut


    I applied for a mortgage with them and they really put me through the ringer. I understand the importance of giving complete documentation which I did but they continued to come back to me with follow up questions- asking the same question on numerous occassions. They posted my wifes original documents to an old address. Their customer service was appauling- they promised to call to give an anwser on numerous, numerous times and never did. I applied in September and still not have received an answer!! I would advise anymore I know to STAY CLEAR OF KBC!! I since applied to PTSB- 2 weeks after KBC- got swift approval and my wife and I moved into our new house last week :-) :-)


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    #14
    uberalles
    Registered Users Posts: 836 ✭✭✭uberalles


    We got a PFO from them, yet 3 other banks said OK.

    Suspicious of their introduction rates (are they for x months)


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    #15
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    We applied for a mortgage with KBC, BOI and AIB at the same time and went with KBC in the end.

    BOI and AIB's conditions didn't suit us, we were just trading up our family home, but they also wanted us to sell some or all of our other properties.

    KBC was exactly the same to deal with as the other banks regarding paperwork, but they communicated via email, which the others didn't.


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