Hi Brendan,
KBC have taken a 25k breakage fee this week after dragging their feet all week with the redemption figures. We were in a 10 year fixed agreement (89months left) - Not ideal but we didn't think in a million years it would have been this high. We were estimating more in the range of maybe 4-5k.
This seems excessive as many articles online mention the EU Mortgage Credit Directive as a way to regulate these breakage fees. Are they allow use the standard convention breakage fee calculation while ignoring this rule?
Thanks in advance.
KBC have taken a 25k breakage fee this week after dragging their feet all week with the redemption figures. We were in a 10 year fixed agreement (89months left) - Not ideal but we didn't think in a million years it would have been this high. We were estimating more in the range of maybe 4-5k.
This seems excessive as many articles online mention the EU Mortgage Credit Directive as a way to regulate these breakage fees. Are they allow use the standard convention breakage fee calculation while ignoring this rule?
Thanks in advance.