There appears to be a complete lack of clarity as to what's happening in relation to this matter from the very beginning, it appears that the Ombudsman just does no seem to understand what happens in relation to mortgages. I believe that we as a group have not been listened to (even on this forum) and the whole communication process on updates from the very start of the process has been shocking. It appears to me that the whole process around selection on whether one person has a case or not is a bit of 'hit and miss'. I always had this uneasy feeling that once these guys (KBC) decided to up and leave that our 'goose' was 'cooked' and fanciful 'soundbites' on national media from various commentators were a waste of time.Hi All
I wanted to give you all an update on this as we have now had two decisions that have upheld the Bank's position on its Flyer. Despite what was stated in the Flyer "Fantastic News....... All IIB Homeloan fixed rates will now roll onto Tracker rate upon expiry" the office of the FSPO has sided with what I referred to as the retrospective alteration of KBC/IIB's original intentions. Given that this is the same bank that was remarked on, by the Central Bank Of Ireland in its report
“The Central Bank’s investigation into KBC has revealed a stark example of the very real harm caused to people when financial service providers fail to treat their customers fairly. By placing their own financial interests ahead of their customers’ best interests, KBC failed to adequately consider their obligations under the Consumer Protection Codes, which were put in place in order to protect customers in their dealings with financial service providers."
It is a remarkable state of affairs to think that there is not even the remotest possibility that this this behaviour did not carry over to this matter and i don't for one minute accept that it did not. The decision from the FSPO also shows a remarkable lack of understanding of the mortgage market, that existed at the time the 'Flyer' was issued.
Not much more I can say except to say that I am extremely disappointed for the customers in question and while I will continue to try and alter the views of the office of the FSPO in my other ongoing cases I see it as a waste of time to be blunt.
It is not, after all, the first time I have been told I am wrong on matters Tracker:mad: Padraic
this whole saga has so many similarities with the Post Office scandal in the UK.
maybe this issue with KBC has been a contributory factor
Maybe most of the others dont have serious health issues , lucky for themBut the key point is that the Ombudsman has not upheld complaints on the issue.
So that puts you in the same category as the 400,000 or so other Irish non-tracker mortgage holders who paid the highest mortgage rates in the eurozone for most of the last decade. An issue that I have been consistently campaigning on.
Brendan
Many thanks Padraic for the update. I, like so many was gutted to hear the outcome so far.remarked
I was maintaining a tiny glimmer of hopeNic Oir it doesn’t really matter as likely all will have same result Pádraic
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