Bank of Ireland confirmed on Friday that it had completed the purchase of €7.8 billion of loans and €1.8 billion of deposits from KBC Bank Ireland, as the Belgian-owned lender advances plans to exit the Republic.
It is expected that the portfolios – including €7.6 billion of performing mortgages, €100 million of small business and consumer loans, and €100 million of non-performing loans – will move across by the end of March.
I'm guessing that they are still considered customers of KBC until the mortgages are moved across next month.So are former customers of KBC now able to avail of Bank of Ireland fixed rates which are much lower than KBC's?
it is possible that they are already considered BOI mortgage customers. If that is the case, then fixing on KBC's rates is no longer an option. Probably best to call KBC and ask.I got the text msg five mins ago to say Im now a boi customer for my mortgage.
I would suggest that BOI have held off on increasing their variable rates until the KBC customers move across, so that they can then increase the variable rates of both the current BOI and former KBC customers.