CCR issue affecting 35,000 ex KBC mortgage holders

[Brendan Burgess]

Some 35,000 ex-KBC mortgage borrowers hit by data error after Bank of Ireland transfers

Error has resulted in the lender not filing monthly loan performance updates to the Central Credit Register

www.irishtimes.com

Bank of Ireland has told its new customers in letters issued recently that the problem occurred on the point of transfer, where the “start date” of the loan was incorrectly put into its systems. A spokesman for the bank said that it related to some 35,000 mortgage accounts, or about half of the KBC loans it acquired.

“As we were aware of this error, we did not submit the mortgage details to the CCR. This was to prevent incorrect credit information being reflected on your credit report,” the bank said in the letters. “As a result, we have not submitted information relating to your mortgage loan to the CCR for February or March 2023. We will continue to withhold monthly reporting until the error is fixed.”