KBC - why am I paying 3.79% when they charge new customers 3.45%?

[paulies2016]

HI there
I bought a house with my husband over a year ago. Our mortgage was with KBC as they seemed to have one of the better rates at the time. LTV 80%. My query is how can they have different variable rates for same LTV, when I look online now, the rate offered is a lot lower than what we got even for LTV 80%?. How they ever adjust the variable rate in the future when everyone will be on different rates is confusing. It all seems very unfair.
any insight or help would be appreciated. The rate now is 3.45% interest and APR of 3.51% while our rate was 3.79% interest a year ago LTV 80%

 

[Monbretia]

Banks regularly have different offerings for new customers, same happens with savings accounts. It won't cause them any problems adjusting rates, computer will do all the work. No different to buying a car with a special offer and then the following year they bring out a better offer, it's just the way things are, not always fair. Some bank is offering existing customers new customer rates, I can't remember which one it is, why not look to switch if it is worthwhile.

 

[Sarenco]

...why not look to switch if it is worthwhile.

Subject to certain conditions, Ulster Bank offer a variable rate of 3.35% for a loan over €250k at 80% LTV and will give you cash back of €1,500 for your trouble.

 

[Brendan Burgess]

Banks regularly have different offerings for new customers,

Only Bank of Ireland and KBC now do this. AIB, Ulster Bank and ptsb pass on rate cuts to existing customers.

No different to buying a car with a special offer and then the following year they bring out a better offer,

It's very different. When you buy a car, the price is set and the money is paid. A mortgage is a long-term contract where the bank is at liberty to vary the price at will.

OP - you should switch to Ulster Bank which has committed to treating existing customers fairly.

Brendan

 

[Ravima]

OP - you should switch to Ulster Bank which has committed to treating existing customers fairly.

Brendan[/QUOTE]


'Fairly'?? I've been told by Ulster, with whom I have been for over 40 years, that as my account is not 'active enough' they would rather I move my business elsewhere!!

 

[irishguy]

HI there
I bought a house with my husband over a year ago. Our mortgage was with KBC as they seemed to have one of the better rates at the time. LTV 80%. My query is how can they have different variable rates for same LTV, when I look online now, the rate offered is a lot lower than what we got even for LTV 80%?. How they ever adjust the variable rate in the future when everyone will be on different rates is confusing. It all seems very unfair.
any insight or help would be appreciated. The rate now is 3.45% interest and APR of 3.51% while our rate was 3.79% interest a year ago LTV 80%

KBC like to screw there existing customers. Thats why I am moving to Ulster Bank and I would advise you to do the same

 

[mercman]

OP - you should switch to Ulster Bank which has committed to treating existing customers fairly.

Brendan

OP, you must remember that Banks operating in these times are interested in one thing --- their own profit. As a colleague of mine says, 'Banks and Insurance Companies, don't do favours. It's everyman for himself, and I recommend that you use whichever suits your needs best. As far as I see it, AIB are the most customer friendly presently in the market.

Ulster just want to take your money from you as Bank of Ireland do the same. KBC are just OK, but read every piece of small print before you sign anything.

Personally I hate Banks, none in particular. They all make me violently ill.