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KBC Tracker mortgage

  • 17-11-2017 3:02pm
    #1
    KateLomza
    Registered Users Posts: 4 ✭


    Hi
    Just a quick question about KBC Tracker mortgage.
    We took our mortgage in September 2008 and we where told by bank (it was IIB back then) that we can not have the tracker mortgage option.
    When i phoned bank now i was told that tracker mortgage was stopped from July 2008.
    Just wondering did anyone else got tracker mortgage after July 2008 and did bank had right to stop offering trackers mortgages to customers at all?
    Please help.


Comments

  • #2
    Hitman3000
    Closed Accounts Posts: 5,596 ✭✭✭Hitman3000


    KateLomza wrote:
    Hi Just a quick question about KBC Tracker mortgage. We took our mortgage in September 2008 and we where told by bank (it was IIB back then) that we can not have the tracker mortgage option. When i phoned bank now i was told that tracker mortgage was stopped from July 2008. Just wondering did anyone else got tracker mortgage after July 2008 and did bank had right to stop offering trackers mortgages to customers at all? Please help.


    You weren't offered a particular product, can't see the issue.


  • #3
    phormium
    Registered Users, Registered Users 2 Posts: 3,345 ✭✭✭phormium


    Bank was perfectly entitled to stop offering a particular product if they discontinued it.

    I couldn't be definite about KBC but know the bank I was with stopped them in June/July 08, I would think most banks stopped mid 2008.


  • #4
    brendan86
    Registered Users, Registered Users 2 Posts: 491 ✭✭brendan86


    phormium wrote: »
    Bank was perfectly entitled to stop offering a particular product if they discontinued it.

    I couldn't be definite about KBC but know the bank I was with stopped them in June/July 08, I would think most banks stopped mid 2008.

    Most Banks did stop mid 2008 and even if they didnt they never had to offer tracker if they didn't want to.

    You knew the terms of what you signed, if you wanted to go to another bank you were free to.

    This whole tracker scandal is about people who were on trackers and signed up to discounted fixed rates and we're never offered there tracker back at end of fixed rate.

    If the tide was turned and you had a variable and tracker rates were getting screwed with you ring bank tell them you should have been offered tracker?

    You got what you signed up for. I genuinely feel sorry for the people who got screwed by this scandal by the banks. It has caused a lot of stress on people where it didn't need to and split couples up and this government let's the banks away with it!

    Now I'm in a bad boat myself, I had a tracker with first active and switched. Was offered tracker with (can't think of name now)? But went with iib homeloans with no tracker.

    But I made that decision , they never offered me tracker and I signed on dotted line. I made a bad call such is life.


  • #5
    Hitman3000
    Closed Accounts Posts: 5,596 ✭✭✭Hitman3000


    brendan86 wrote:
    Now I'm in a bad boat myself, I had a tracker with first active and switched. Was offered tracker with (can't think of name now)? But went with iib homeloans with no tracker.


    Hope it works out for you. I was with First Active back in 06 had a low fixed rate as a ftb came to the end of that no offer of a tracker so upped sticks and went to the Ulster bank and got a tracker. I% above ECB rates. I remember the ECB rates climbing and thinking I made a bad decision so did my wife. Mortgage went from 670e up to 880e back down to 640e now. I got lucky. Advised a friend of mine to seek a tracker when I went for one. He said he did but laughed at me when the rates were climbing saying he was gald he didn't take my advice. He never mentions it now and out of respect neither do I. We live with our choices.
    I wish you well.


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