Mortgage Application KBC

jasondunne1988

Quick one myself and my partner submitted a mortgage app through a broker to KBC about 2 weeks ago, recieved 2 letters this morning from KBC

We have no accounts with KBC but today i recieved 2 letters from KBC, first letter regarding a change of address but the address is the exact same and a second letter saying "KBC wishes to confirm that you are now subject to DIRT as per your request"

Has anyone else recieved these letters while going through a mortgage application and if so was there a positive outcome from your application

Cheers

thedeal

I have recently drawn down with KBC and got the same type of letters. My broker setup application and the letter was correspondence to say I was set up on their system. I also opened a current account to avail of discounted % rate and added a saving account so got the DIRT letter as well.
Have you recently opened a current account along with application to avail of cheaper rate?

jasondunne1988

thedeal wrote: »

I have recently drawn down with KBC and got the same type of letters. My broker setup application and the letter was correspondence to say I was set up on their system. I also opened a current account to avail of discounted % rate and added a saving account so got the DIRT letter as well.
Have you recently opened a current account along with application to avail of cheaper rate?

Thanks for the reply, our broker did ask about setting up a new account for the cheaper rate etc which we agreed to but we havent found out whether our mortgage application was succeasful or not, application was sent in about 2 weeks ago

Only correspondence we have had is receiving these 2 letters this morning, still waiting to hear from the broker.

Hoping this may be a good sign of a succeasful application and our broker just hasnt got back to us yet or its me just wishful thinking

thedeal

The process is very slow with KBC at the minute and the mortgage team is completely separate to account team as I received a call soon after the current account was set up from KBC and asked them about the mortgage application but they had no visibility.

It could be a positive sign as I got approved and have drawn down mortgage just 2 weeks ago although it did take a lot longer than I expected even though obvious delays with Covid. One thing I would say is its good you went with a broker as they seem to be getting things done faster than going direct.

jasondunne1988

thedeal wrote: »

The process is very slow with KBC at the minute and the mortgage team is completely separate to account team as I received a call soon after the current account was set up from KBC and asked them about the mortgage application but they had no visibility.

It could be a positive sign as I got approved and have drawn down mortgage just 2 weeks ago although it did take a lot longer than I expected even though obvious delays with Covid. One thing I would say is its good you went with a broker as they seem to be getting things done faster than going direct.

If you dont mind me asking how long did the whole process take in total?

Broker was onto us hes not sure about the DIRT letter think i have applied for a loan off KBC in the past well over 5 years ago which he said could explain the change of address letter but still cause i never had an accpunt with them doesnt expain the DIRT letter as he or myself recieved no calls regarding a current account opening

Will have to wait and see what happens

BronsonTB

Worth a read through - https://www.boards.ie/ttfthread/2057798459


They can be a very slow bank to deal with.

thedeal

jasondunne1988 wrote: »

If you dont mind me asking how long did the whole process take in total?

Broker was onto us hes not sure about the DIRT letter think i have applied for a loan off KBC in the past well over 5 years ago which he said could explain the change of address letter but still cause i never had an accpunt with them doesnt expain the DIRT letter as he or myself recieved no calls regarding a current account opening

Will have to wait and see what happens

Id say 2.5 months in total. Drawdown took about 1 week from solicitor sending in paperwork which wasn't too bad considering.
Best of look with the application!

hanaimai

I recently applied to switch mortgage to KBC and I already have my current and savings accounts with them (joint with husband). We received six letters from them after applying, confirming changes to various contact details... except absolutely none of the contact details had changed. So basically all the letters just said 'confirm you have changed your address from X to X'. Like, really. What a waste.

listermint

10 to 12 weeks id say. That's how ours went.

jasondunne1988

thedeal wrote: »

Id say 2.5 months in total. Drawdown took about 1 week from solicitor sending in paperwork which wasn't too bad considering.
Best of look with the application!

Im afraid that wouldnt be ideal for us, have a deadline to sign contracts on a new build start of december, which has already been extended once by the developers solicitor, we got held up by the sale of current house (buyers solicitor being an absolute tool)

Cheers thou, hopefully it all goes well

jasondunne1988

hanaimai wrote: »

I recently applied to switch mortgage to KBC and I already have my current and savings accounts with them (joint with husband). We received six letters from them after applying, confirming changes to various contact details... except absolutely none of the contact details had changed. So basically all the letters just said 'confirm you have changed your address from X to X'. Like, really. What a waste.

Yeah i rang KBC myself and they could see a profile setup for me which is part of the application process and they could see 2 letters that were sent to me, explanation for the the address change letter was there couldnof been a typo on the profile and when it was fixed an change address letter was automatically generated which is fair enough but the DIRT they have no idea why it was sent

Trish56

KBC are taking one month from receipt of your application to issue 'Loan Approval in Principle' after that issues your Broker will issue instructions to KBC to have the valuation on the property carried out - this can take approx. 7/10 days. In order for 'Loan Offer' to issue all pre loan offer conditions must be complied with and then it take 2/3 weeks for the loan offer to issue. A copy will then be sent to your Solicitor and then you can sign contracts and loan acceptance.

I wouldn't worry too much about the timeline in signing the contracts as due to Covid everyone are experiencing delays.

Best of luck

dreamer001

How much time does it roughly take from drawdown to getting keys once you have letter of offer and contracts signed?

Thanks