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Do NOT switch mortgage to KBC

17.10.2017 11:32 #1
We have now officially entered the fifth month in our switching hell. At this stage I believe that KBC is manned by a robot because I don't believe a human can be so inept.
What should be a very easy switch has become an absolute nightmare. They don't know their arse from their elbow. Their inability to answer questions to clarify their demands is astonishing. We've now had added costs due to repeated visits to our solicitor as they seem unable to calculate the draw down amount to clear our old provider and are unwilling to accept ID that was previously accepted in the early application process and indeed, for us to open two new current accounts.
We have also been screwed by them increasing their perceived rebuild value of our house. We now need to insure it for over 50k more than was previously calculated.
Unless you have unlimited time, resources and patience, please do not venture down this very, very long road. A complete shambles of a set up.
10 thanks
18.10.2017 11:34 #2
Verified representative
Hi Chicken Foot

I am sorry for the issues you have experienced in switching your mortgage. Can you please PM me your contact details as we would really like to get more information on the issues you’ve had so that we can address them?

Thanks
Amanda
18.10.2017 11:37 #3
Registered User
Originally posted by chicken foot
We have now officially entered the fifth month in our switching hell. At this stage I believe that KBC is manned by a robot because I don't believe a human can be so inept.
What should be a very easy switch has become an absolute nightmare. They don't know their arse from their elbow. Their inability to answer questions to clarify their demands is astonishing. We've now had added costs due to repeated visits to our solicitor as they seem unable to calculate the draw down amount to clear our old provider and are unwilling to accept ID that was previously accepted in the early application process and indeed, for us to open two new current accounts.
We have also been screwed by them increasing their perceived rebuild value of our house. We now need to insure it for over 50k more than was previously calculated.
Unless you have unlimited time, resources and patience, please do not venture down this very, very long road. A complete shambles of a set up.

On a positive side, while switching you are not under time pressure (contrary to when you are buying) and worse thing that might happen is that you stay with your previous provider. 
19.10.2017 09:36 #4
Originally posted by grogi
On a positive side, while switching you are not under time pressure (contrary to when you are buying) and worse thing that might happen is that you stay with your previous provider. 


Having incurred legal fees over 1200 & other accruing costs that are pushing nearly 2000 - all of which have to be paid regardless if we switch or not? A positive?
DO NOT SWITCH TO THESE CLOWNS!!!
There is nothing unusual in our circumstances, this should have been signed and sealed in six weeks. They are the most inept bunch I've ever experienced. We've had less hassle applying for the original mortgage during the recession.
2 thanks
19.10.2017 15:23 #5
Verified representative
Originally posted by chicken foot
Originally posted by grogi
On a positive side, while switching you are not under time pressure (contrary to when you are buying) and worse thing that might happen is that you stay with your previous provider. 


Having incurred legal fees over 1200 & other accruing costs that are pushing nearly 2000 - all of which have to be paid regardless if we switch or not? A positive?
DO NOT SWITCH TO THESE CLOWNS!!!
There is nothing unusual in our circumstances, this should have been signed and sealed in six weeks. They are the most inept bunch I've ever experienced. We've had less hassle applying for the original mortgage during the recession.


Hi chicken foot

As per my previous response, if you send on your phone number we would be happy to call you and hopefully resolve the issues you're having.
Also we are currently offering EUR3000 towards your professional fees (legal and valuation fees) if you switch and drawdown your mortgage between 2nd May 2017 and 31st December 2017 to assist with these costs you have referred to.

Thanks
Amanda
1 thank
19.10.2017 17:27 #6
We had much the same experience, but buying, not switching so we were under serious time pressure to drawdown and close on time.

Initial application was lost.
Second application was accepted for the mortgage but rejected for the current account application part because of insufficient ID.
Third attempt and everything was go - on the day we were supposed to drawdown at 1PM they suddenly decided that actually, no, they were missing part of the application.

Only that we went through a broker who had a lot of clout we wouldn't have been getting the keys that day.

We're halfway through a fixed term on our KBC mortgage now and I'll be moving everything away at the earliest opportunity.
3 thanks
21.10.2017 22:39 #7
Registered User
Thank God I read this before I switched to this shower..
7 thanks
21.10.2017 22:57 #8
I'm with KBC., l never had a problem dealing with them.
3 thanks
21.10.2017 23:01 #9
Similar experience trying to open a current account. Nightmare. 
3 thanks
21.10.2017 23:11 #10
Banks generally.   BOI are worse
22.10.2017 18:49 #11
Originally posted by AskKBC: Amanda
Hi chicken foot

As per my previous response, if you send on your phone number we would be happy to call you and hopefully resolve the issues you're having.
Also we are currently offering EUR3000 towards your professional fees (legal and valuation fees) if you switch and drawdown your mortgage between 2nd May 2017 and 31st December 2017 to assist with these costs you have referred to.

Thanks
Amanda


Amanda, if my solicitor and broker can't sort it out then I'm confused as to how we can on Boards.
The point of this post is to warn others.
This was a very simple switch, nothing unusual anywhere yet here we are, five months later, banging our heads off the wall.
8 thanks
22.10.2017 18:51 #12
Originally posted by PAKNET
We had much the same experience, but buying, not switching so we were under serious time pressure to drawdown and close on time.

Initial application was lost.
Second application was accepted for the mortgage but rejected for the current account application part because of insufficient ID.
Third attempt and everything was go - on the day we were supposed to drawdown at 1PM they suddenly decided that actually, no, they were missing part of the application.

Only that we went through a broker who had a lot of clout we wouldn't have been getting the keys that day.

We're halfway through a fixed term on our KBC mortgage now and I'll be moving everything away at the earliest opportunity.

It's bizarre isn't it. Likewise, once our term is up we will be gone!
If we weren't caught with the fees we've already accrued then I'd have stopped the switch a while ago.
Such a disaster of a set up.
22.10.2017 18:54 #13
Originally posted by One_Of_Shanks
Banks generally.   BOI are worse


We got our original mortgage from BOI during recession, we also got equity release in 2015 from them - both were arduous in the sense of the details they required, neither compare anywhere near the process we've had with KBC.
23.10.2017 12:08 #14
Registered User
Thread title might have a better impact as more a 'warning' rather than a 'do not' post.
If a potential switcher reads the threads here first they can make a more informed choice. 
The rate to switch might be attractive for the savings to begin with but then they will need to offset that with the hassle to actually get setup etc as per OP.
Most but not everyone will have the same hassle as the OP as one other reply has pointed out.

Using a PM is sometimes worth sending if wanting more advice from the OP on a thread.
23.10.2017 12:45 #15
Originally posted by BronsonTB
Thread title might have a better impact as more a 'warning' rather than a 'do not' post.
If a potential switcher reads the threads here first they can make a more informed choice. 
The rate to switch might be attractive for the savings to begin with but then they will need to offset that with the hassle to actually get setup etc as per OP.
Most but not everyone will have the same hassle as the OP as one other reply has pointed out.

Using a PM is sometimes worth sending if wanting more advice from the OP on a thread.


I am willing to answer any queries via pm. I will also update once this concludes.

The rates offered by KBC were good but in hindsight, the extra small % difference between them and nearest competitor was not worth the hassle.

The issue regarding the new re build figure was an unexpected one although not unique to KBC I'm sure. Our house now has to be insured for a rebuild value of €180,0000 MORE than it cost us to build six years ago. This means that a portion of the interest rate savings is being eaten up by a higher home insurance quote.

Our last evaluation was done in 2015, when the valuation put it at at higher sale value but kept rebuild value the same as per the first valuation done in 2011 when house was completed.
A complete joke using the "national average" re build rates. The new valuation was conducted by a KBC appointed estate agent.

We have had four visits to our solicitor, three of those instances was to sign the loan offer. First one that was signed was calculated incorrectly, second one needed to be recalculated again and the last two are because the previous offers expired as KBC seem to only notice they need something else as it goes to close.

It's a shambles, if you're anyway impatient/hate paperwork/ not really fond of visiting your solicitor on a weekly basis - then consider this carefully.

Again, to reiterate, this is a straight forward mortgage swap, nothing of interest or concern. Broker told us it would close in max 8 weeks..that was 15th May....exactly 23 weeks ago today.
2 thanks
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