KBC cuts fixed rates

Brendan Burgess

Brendan Burgess

Founder
Messages
54,685
3974

Dublin, 1st August 2019: KBC Bank, Ireland’s digital-first bank, is offering first time buyers, switchers and movers even more choice and better long-term value following a reduction in the bank’s 2 and 10-year fixed rates by between 0.20% and 0.55%.

In June, the bank announced the introduction of free day-to-day banking to KBC Extra Current Account holders who lodge a minimum of €2,000 into their account every month, with no requirement to maintain the balance. This will provide KBC Extra Current Account holders with the bank choices they deserve and financial support they need to achieve their goals.
 
I thought that KBC customers with LTVs >90% could fix for one year at 2.5%?

But that doesn't seem to have been the case. Can anyone confirm this?



Brendan
 
All those fixed rates are way more than double my fixed rate from KBC. I might try and move to them for my current account though. Ulster are making me keep a fixed amount in the accounts and still charging me each month.
 
Bronte said:
All those fixed rates are way more than double my fixed rate from KBC. I might try and move to them for my current account though. Ulster are making me keep a fixed amount in the accounts and still charging me each month.
Click to expand...
I'm with Ulster Bank for mortgage only. It's paid directly from my KBC account.
 
Have Kbc gone back to having different rates for new and existing customers? I switched my rate last year to 3 year fixed and got the same rate as a new customer even though I was an existing customer. Was thinking of possibly breaking out of that and moving to 2 year fixed as rate is lower. The website seems to imply different rates for new and existing.
 
Do KBC allow you to overpay while tied to a fixed rate? I cant find the definitive answer but on the boards forum it appears you can overpay 10% during the course of the fixed rate length e.g. If you're on a 3 year fixed rate and borrowed 200,000 then you could only overpay 20,000 over the course of 3 years. Is this correct?
 
AJ1 said:
Have Kbc gone back to having different rates for new and existing customers? I switched my rate last year to 3 year fixed and got the same rate as a new customer even though I was an existing customer. Was thinking of possibly breaking out of that and moving to 2 year fixed as rate is lower. The website seems to imply different rates for new and existing.
Click to expand...
Appears to be the case! For that reason I'm switching to UB, for that and their better overpayment option of 10% of the balance I any calendar year. Though I might try KBC to see if they might give me the rates.
 
I believe you can still avail of the new rates with KBC as an existing customer, though you'll need to get a valuation done first.
 
Hi, do customers on existing fixed rates have any ability to be moved onto this rate? I have a 2 year fix with them that I started on 1st May 2019.
 
Yes, just would need to get house valued and pay breakage on your current fixed product. (This may or may not be worth it depending on breakage costs)
 
I got a breakage fee quote today from kbc of over 1800 euro to break out of a three year fixed rate after a year!
 
I have a split mortgage with KBC. Part on 10 year fixed @ 2.95% and part on variable at @ 3%. LTV is <50%.
I was considering switching variable part to 2 year fixed @ 2.25%. I need to get a valuation done so want to check that it really is worthwhile.
Besides the monthly repayment saving, should I also be making saving an interest for the 2 years? I find it hard to calculate this
 
ddmani said:
I have a split mortgage with KBC. Part on 10 year fixed @ 2.95% and part on variable at @ 3%. LTV is <50%.
I was considering switching variable part to 2 year fixed @ 2.25%. I need to get a valuation done so want to check that it really is worthwhile.
Besides the monthly repayment saving, should I also be making saving an interest for the 2 years? I find it hard to calculate this
Click to expand...

I'm in exactly the same situation. The variable portion of my mortgage is 78k. I'm currently paying 4% on 78k.

Is the interest saving in year one 585 Euro based on 0.0075 * 78,000? Obviously, I have to subtract the cost of the valuation from that.
 
Last edited:
You must log in or register to reply here.
Back
Top