KBC Mortgage - No Splitting?

ktc

Hi, there was an article in the Independent last week, showing that PTSB and other providers had been requested to offer split mortgages, ie: parking a lump of your mortgage giving you a chance to start paying off some, which would be offered to people in negative equity or in arrears/interest only payments.

Im with KBC and asked them about this. They said they're not doing this and have no plans to. I can't find the original article, am I at their mercy on this?

Jamey_29

Interested to see how this pans out. I'm with KBC also.

Pablo Sanchez

KBC are not one of the 'Covered Banks', im not sure if they can be bound by central bank guidance. Article here from the Times:

http://www.irishtimes.com/business/sectors/financial-services/banks-under-pressure-to-use-split-mortgages-to-tackle-arrears-1.1465599

ktc

Thanks for the replies. I'm unsure as to what a covered bank is but hopefully this will be taken further to will make it so everyone can avail of this as part of their negociations to repay.

Scortho

ktc wrote: »

Thanks for the replies. I'm unsure as to what a covered bank is but hopefully this will be taken further to will make it so everyone can avail of this as part of their negociations to repay.

One which the state has a shareholding in.
So ebs, aib, boi, tsb, and inbs (or whoever buys the loan book).

Unless the central bank make it a requirement for all banks to offer split mortgages.

worded

I read in other countries houses in low demand / rural areas will get offered splits way quicker than properties that can be resold at a relatively higher amount. The banks suiting themselves