KBC Tracker Mortgage

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Gmac

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I am on a KBC tracker mortgage and I am correct in saying the following.

You pay a back month?

Noticed I paid the same amount on the 1st of November as the 1st of October even with ECB cut.

Also the cut only comes into action on the 1st November and if the rate goes up it is back dated to when the raise come in.

Feels like taking with one hand and only half giving back with the other
 
the banks have 30 days to pass on the decrease which KBC have taken to the day...my nov DD was the same, rang them, the decrease applies from Dec DD...the scum pass the increases on well before the 30 days though...
 
Did you refer to them as scum when you were asking them to loan you money? Their policy on when they pass on rate cuts and decreases is written into your loan offer. Did you read it?
 
I'm a bit confused on this one. I too have a KBC mortgage, the DD for which was the same on Nov 1st as it was on Oct 1st.

If the rate cut was announced on 3rd October then the decrease wouldn't apply until 2nd November which is fair enough. However if it's not applied until 1st December then surely they have taken 60 days to apply the decrease?
 
marvin said:
I'm a bit confused on this one. I too have a KBC mortgage, the DD for which was the same on Nov 1st as it was on Oct 1st.

If the rate cut was announced on 3rd October then the decrease wouldn't apply until 2nd November which is fair enough. However if it's not applied until 1st December then surely they have taken 60 days to apply the decrease?
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30 days to notify punters
 
Dave Vanian said:
Did you refer to them as scum when you were asking them to loan you money? Their policy on when they pass on rate cuts and decreases is written into your loan offer. Did you read it?
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convienient how they "bend" the rules when it benefits them and not the customers....

the taxpayer effectively bailed them out and we get very little in return and no accountabilty....

typical Irish toleration of everything thrown our way....put up & shut up attitude....at least the OAP's nailed the government
 
Oh you make me smile. You entered into a contract where you asked a bank if they would lend you money on commercial terms. The terms were laid out for you in black and white before you signed. You even had a solicitor acting for you, who could explain the details to you. If you didn't like them, nobody forced you to sign.

Now you're whinging and calling the bank scum because, shock, horror, they intend to make money out of the deal but still stay within the terms of the agreement that you signed up to?

Banks are businesses, not charities. If you object to this, don't go to them asking to borrow money off them.
 
Dave Vanian said:
Oh you make me smile. You entered into a contract where you asked a bank if they would lend you money on commercial terms. The terms were laid out for you in black and white before you signed. You even had a solicitor acting for you, who could explain the details to you. If you didn't like them, nobody forced you to sign.

Now you're whinging and calling the bank scum because, shock, horror, they intend to make money out of the deal but still stay within the terms of the agreement that you signed up to?

Banks are businesses, not charities. If you object to this, don't go to them asking to borrow money off them.
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they make enough money out of mortgages pal, ive no issue with that its the ECB cuts that they capitalise on that bugs me and you fail to mention the taxpayer bailing them out and the lack of accountability? i presume thats ok to you too?
 
In case you hadn't heard, it was the Government that bailed them out. So if you're not happy with how the bailout was handled, perhaps it's the Government that you should be referring to as "scum". If the Government didn't insist on accountability before offering the deposit guarantee, that's the Government's decision. And thankfully, Im not your "pal".
 
Dave Vanian said:
In case you hadn't heard, it was the Government that bailed them out. So if you're not happy with how the bailout was handled, perhaps it's the Government that you should be referring to as "scum". If the Government didn't insist on accountability before offering the deposit guarantee, that's the Government's decision. And thankfully, Im not your "pal".
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taxpayers money ultimately bailed them out....the government and banks are as bad as each other...suppose the banks are completely exempt from any blame whatsoever or at least thats what you are implying....i fully expect ECB increases to be passed on and even banks own rates its the decreases that bugs me...

god no...i think ill cry myself to sleep tonight Mr Bank manager....
 
DublinMo said:
convienient how they "bend" the rules when it benefits them and not the customers....

the taxpayer effectively bailed them out and we get very little in return and no accountabilty....

typical Irish toleration of everything thrown our way....put up & shut up attitude....at least the OAP's nailed the government
Click to expand...

Actually IIB/KBC were not bailed out

[broken link removed]
 
plant43 said:
Actually IIB/KBC were not bailed out

[broken link removed]
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the thread has gone off on a tangent about banks & the government in general....my gripe with KBC is they pass them on well within the 30 days but dont decrease them in the same manner...if they did, i wouldnt open my mouth....
 
DublinMo said:
suppose the banks are completely exempt from any blame whatsoever or at least thats what you are implying....
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No I'm not implying that at all. Banks have made some terrible decisions.

I disagree with your referring to banks as scum, because they stick to the terms of a loan agreement that you signed up to, in order to turn a profit.

DublinMo said:
god no...i think ill cry myself to sleep tonight Mr Bank manager....
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I'm not a Bank Manager. I'm a self-employed sole trader.
 
Dave Vanian said:
No I'm not implying that at all. Banks have made some terrible decisions.

I disagree with your referring to banks as scum, because they stick to the terms of a loan agreement that you signed up to, in order to turn a profit.



I'm not a Bank Manager. I'm a self-employed sole trader.
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again ive no problem with them making money (huge money) its when they "bend" the terms to suit themselves that gets at me...we take the increase (ECB & other) on the chin in a timely manner but they "bend" the decreases to make more from us...a little parity of esteem would be nice...i doubt they'll pass todays cut on anyway...


you should work for a bank...you'd be CEO (or whatever) in no time!! haha (",)
 
And again I still can't see why you expect a bank NOT to maximise profit on a deal and call them scum when they do. They're not charities.

Your local butcher / baker / candlestick-maker has probably put up prices recently because operating costs have gone up. Are they scum too?
 
Dave Vanian said:
And again I still can't see why you expect a bank NOT to maximise profit on a deal and call them scum when they do. They're not charities.

Your local butcher / baker / candlestick-maker has probably put up prices recently because operating costs have gone up. Are they scum too?
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we can go on all day long about it....i explained why in my previous post...

either way the government have today stated the obvious and said they can't force banks into passing on the cuts so theyve effectively set their stall out...will be interesting to see the media's & public opinion on it....
 
Hi Gmac

I rang KBC today and they advised me that Octobers rate reduction will show up in Decembers payment and todays rate reduction will show up in Januarys payment. This is because with KBC you pay a month behind. I hope this helps.
 
Citygirl said:
Hi Gmac

I rang KBC today and they advised me that Octobers rate reduction will show up in Decembers payment and todays rate reduction will show up in Januarys payment. This is because with KBC you pay a month behind. I hope this helps.
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do you know if thats for variable punters too? i know it is for Oct's one but todays?

cheers
 
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