I am in the process of switching to a fixed rate with KBC. I am reading the offer letter and special conditions, and having lost my tracker due to a 'special condition' am very wary! The following is special condition 5.6 about changing the fixed rate DURING the term of the fixed rate period. Is this normal?
Bank Changing fixed rate during fixed rate period
- Thread starter Stitcher
- Start date
Brendan Burgess
Founder
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Hi Stitcher
This is very different from your issue with ptsb.
ptsb said "We will determine the tracker rate when the discounted period is over"
KBC is saying: This is the fixed rate and it will not change, except in very extreme circumstances.
I had not seen that clause before but I would not worry about it. It is very unlikely that they will ever invoke it.
But if you are concerned, could you switch to someone else other than KBC?
Brendan
This is very different from your issue with ptsb.
ptsb said "We will determine the tracker rate when the discounted period is over"
KBC is saying: This is the fixed rate and it will not change, except in very extreme circumstances.
I had not seen that clause before but I would not worry about it. It is very unlikely that they will ever invoke it.
But if you are concerned, could you switch to someone else other than KBC?
Brendan