Will BoI honour the redraw of overpayments facility offered by KBC?

S

Sligolive

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Over recent years KBC permitted overpayments to be made on variable KBC mortgages by customers which could then be redrawn,if needed by the customer. This facility was not documented in the terms and conditions of the mortgage per se but KBC did provide some documentation in this space. Considering I have made an overpayment of circa 30k on our mortgage on the basis I could redraw that amount, I wonder will BOI facilitate the potential redraw of this amount when the mortgage transfers.
 
@Sligolive Re the overdraw capability - I understand this was in their terms and conditions up to ~2011, during which time it was removed. Maybe someone with an older mortgage than mine can confirm this.

I have also availed of the overdraw facility. However, a few years ago, KBC informed me this was no longer available and I had to draw down all the overpaid funds or treat this as a standard overpayment. In my case, I opened a dispute which them and I now have it in writing from them that the redraw of overpayments made up to the date of their initial communication remain valid.

I fully expect BOI to honour the written confirmation provided by KBC. However, if I did not have this confirmation or it was not explicitly within my T&C's, I would most definitely be draw downing the funds now if there was any chance I would like to use them.
 
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