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Do NOT switch mortgage to KBC

11.06.2020 11:51 #61
Originally posted by Sammy2012
Originally posted by Chinese whospers
I'm confused. What does   'I couldnt be paying my mortgage.' mean? Is the 'state money' not the Covid19 PUP or WSS? But, I'm having trouble with the person you were talking to not understanding what Broadband meant. 


No he meant the "state money" for my kids. AKA childrens allowance! Not any of the income supports available now.

The person I'm dealing with said I couldnt be paying my mortgage now as the banks were closed. I had been withdrawing money in cash from one account and physically lodging it into my mortgage account once a month up to Covid. Since April I have been doing a bank transfer to pay it. The person said "so your not paying your mortgage now that banks are closed?" Eh banks are open and have never closed but just easier to do it by bank transfer now. No idea about the broadband comment. It's pretty clear to me what it means.

Extremely frustrating to deal with it.

Okay, I wasn't sure who was saying, 'I couldn't be paying my mortgage now.' They (KBC) probably couldn't fathom why someone was going to the trouble of withdrawing cash (presumably the mortgage is less than the daily withdrawal limit) and lodging to a mortgage account when it could always be done by bank transfer. 

You have to bear in mind that they will be lending people 10s of thousands of Euro (possibly 100s) and they are used to people (not you, but they need to  check) trying to manipulate the system or/and downright lying. The person you were dealing with is probably personally responsible for signing off on your application (to that point at least) and is accountable for such. 

Re Broadband, I think we can assume everyone that's had the good fortune of passing a job interview in the last 20 years knows what Broadband is. He may (playing Devil's advocate) be wondering if was something work related. 

Re the 'state money' they needed to confirm that it was CA as it cannot (AFAIK) be considered income. It can be a torturous process (went through it myself lately with KBC), but when you realise the money/risk involved they have to be extra careful compared to a Short/medium term loan. Add into the mix that the country is in a very bad state it wasn't in less than 3 months ago and it doesn't help. All the banks will be in the same boat.
11.06.2020 11:52 #62
Originally posted by Sarn
Going through the switching process with them at the moment. Every few days throws up a new query and appears to restart the 10 day assessment clock. Hopefully, we’ve dealt with the last questions and it won’t take the full time. I would like to think it should be relatively straight forward.

I’ll report back on the experience.


Best of luck. I thought ours would be fairly straightforward too. Silly me.
11.06.2020 12:02 #63
Originally posted by Chinese whospers
Okay, I wasn't sure who was saying, 'I couldn't be paying my mortgage now.' They (KBC) probably couldn't fathom why someone was going to the trouble of withdrawing cash (presumably the mortgage is less than the daily withdrawal limit) and lodging to a mortgage account when it could always be done by bank transfer. 

You have to bear in mind that they will be lending people 10s of thousands of Euro (possibly 100s) and they are used to people (not you, but they need to  check) trying to manipulate the system or/and downright lying. The person you were dealing with is probably personally responsible for signing off on your application (to that point at least) and is accountable for such. 

Re Broadband, I think we can assume everyone that's had the good fortune of passing a job interview in the last 20 years knows what Broadband is. He may (playing Devil's advocate) be wondering if was something work related. 

Re the 'state money' they needed to confirm that it was CA as it cannot (AFAIK) be considered income. It can be a torturous process (went through it myself lately with KBC), but when you realise the money/risk involved they have to be extra careful compared to a Short/medium term loan. Add into the mix that the country is in a very bad state it wasn't in less than 3 months ago and it doesn't help. All the banks will be in the same boat.


He didnt ask me how was I paying the mortgage currently. He stared I wasnt paying the mortgage!!! I have never missed a payment thankfully and wasnt going to start now. And yes mortgage is less than daily withdrawal limit. Was just as handy to pay with that way all along but will continue to pay it by bank transfer going forward.

My child would be able to tell you what broadband on a bank statement meant!!

Not sure about the CA but it has been included in other income when dealing with other banks.

I understand that the country is in a bad way at the moment. But the other banks are upfront at the moment in that they are just not lending for the most part! Which is fair enough. I will continue to bank with my current bank for the moment! And keep my sanity!
11.06.2020 12:10 #64
Originally posted by Sammy2012

He didnt ask me how was I paying the mortgage currently. He stared I wasnt paying the mortgage!!! I have never missed a payment thankfully and wasnt going to start now. And yes mortgage is less than daily withdrawal limit. Was just as handy to pay with that way all along but will continue to pay it by bank transfer going forward.

My child would be able to tell you what broadband on a bank statement meant!!

Not sure about the CA but it has been included in other income when dealing with other banks.

I understand that the country is in a bad way at the moment. But the other banks are upfront at the moment in that they are just not lending for the most part! Which is fair enough. I will continue to bank with my current bank for the moment! And keep my sanity!

I was approved by KBC about a week ago, valid up until November, so they are still doing business. Someone mentioned above they got approval in one hour online - I suspect that was subject to document verification and they'll have a long way to go before getting a LOA to proceed. So, you might as well keep trying with KBC, for the same reason you chose them in the first place. 
11.06.2020 13:37 #65
Registered User
Haven't read the full thread but just giving my side of things.

Took a mortgage out with them in 2017. Got approval in principal letter within 1 week. Solicitor did mention they requested a lot of paperwork but only took couple of weeks to draw down the loan. They have a great variable rate and great overpayment options.

I made sure that all my accounts were 100% for 12months and gave them a printed folder with something like 13 dividers so they had every last bit of paper work they needed. I'm also self employed so that included company accounts and tax clearance certs etc.

Not trying to take away from other posters and I'm sure they can be hard work to deal with but if you dot the I's and have everything 100% right then you shouldn't have too many problems.
11.06.2020 13:40 #66
Registered User
Originally posted by Umiq88
Not trying to take away from other posters and I'm sure they can be hard work to deal with but if you dot the I's and have everything 100% right then you shouldn't have too many problems.


Lol, you got very lucky. KBC's mortgage department are completely inept.
2 thanks
11.06.2020 14:37 #67
Registered User
Originally posted by Umiq88

Not trying to take away from other posters and I'm sure they can be hard work to deal with but if you dot the I's and have everything 100% right then you shouldn't have too many problems.

There are exceptions like your experience but this thread is to pre-warn people that are thinking about changing that it is not always straight forward no matter how many i's or t's you dot, for this bank. The rate may be cheaper but there is alot of stress & pain to go with getting it, as previous replies prove.
1 thank
14.06.2020 10:40 #68
Originally posted by Umiq88
Not trying to take away from other posters and I'm sure they can be hard work to deal with but if you dot the I's and have everything 100% right then you shouldn't have too many problems.

This is simply not the case though. I appreciate your easy experience but our crap experience was not due to lack of effort on our part. We had gotten equity release with BOI three years prior to this application with KBC, which, if anyone here knows, is a complete mortgage application process again. All our documents were valid, there was nothing unusual in our circumstances. I have emails of our very competent solicitor losing her patience with the requests coming from KBC. It was a ****storm of inefficiency and I refuse to accept any responsibility for it. I am ridiculously organised when it comes to documentation, its my "thing"and having gone through the initial mortgage application (2009/2010 - in the middle of the recession) and equity release in 2015 I would have considered myself fairly adept at this stuff. 
2 thanks
14.06.2020 14:55 #69
They have been some silly stuff in our switcher application also last year but interest rate at the end was the bottom line.
30.06.2020 18:30 #70
Registered User
Unfortunately, only saw this thread after starting the process. Six weeks to get to approval in principle. Some strange conditions required in order to get the loan offer (even though we are very comfortably within the required LTV and LTI), so it’s going to take a few more months to get it over the line and will no doubt lead to issues.
2 thanks
15.10.2020 14:31 #71
Registered User
Originally posted by Sarn
Unfortunately, only saw this thread after starting the process. Six weeks to get to approval in principle. Some strange conditions required in order to get the loan offer (even though we are very comfortably within the required LTV and LTI), so it’s going to take a few more months to get it over the line and will no doubt lead to issues.

Hope you got sorted out as this forum is closing tomorrow.
16.10.2020 18:37 #72
Registered User
Originally posted by BronsonTB
Hope you got sorted out as this forum is closing tomorrow.


Thanks. Still going. I’m hoping it’s almost there.
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