Hi All
I wanted to give you all an update on this as we have now had two decisions that have upheld the Bank's position on its Flyer. Despite what was stated in the Flyer
"Fantastic News....... All IIB Homeloan fixed rates will now roll onto Tracker rate upon expiry" the office of the FSPO has sided with what I referred to as the retrospective alteration of KBC/IIB's original intentions. Given that this is the same bank that was remarked on, by the Central Bank Of Ireland in its report
“The Central Bank’s investigation into KBC has revealed a stark example of the very real harm caused to people when financial service providers fail to treat their customers fairly. By placing their own financial interests ahead of their customers’ best interests, KBC failed to adequately consider their obligations under the Consumer Protection Codes, which were put in place in order to protect customers in their dealings with financial service providers."
It is a remarkable state of affairs to think that there is not even the remotest possibility that this this behaviour did not carry over to this matter and i don't for one minute accept that it did not. The decision from the FSPO also shows a remarkable lack of understanding of the mortgage market, that existed at the time the 'Flyer' was issued.
Not much more I can say except to say that I am extremely disappointed for the customers in question and while I will continue to try and alter the views of the office of the FSPO in my other ongoing cases I see it as a waste of time to be blunt.
It is not, after all, the first time I have been told I am wrong on matters Tracker
![Mad :mad: :mad:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Padraic