KBC Mortgages

Please note: We are no longer accepting applications for this product. If you made an application on or before the 15th July 2022 it will continue to be processed as normal.

Please note: The European Central Bank announced an increase of 0.50% to the ECB Refinancing Rate on 15th December 2022. This will result in an equivalent increase in KBC Tracker Mortgage Rate Customers interest rates.

Correspondence will be issued to all Tracker Mortgage Customers in the coming days advising them of this increase, the details of their revised interest rate, their estimated revised repayment and when this revised repayment will be payable from.

Mortgages Download Booklet

Here's what you need to know

We've put together some useful tips and frequently asked questions for you.

What's happening?
KBC Mortgages will be moving to Bank of Ireland.
What to expect...
If your account is included in the transfer we have written to you providing notice of the transfer and outlining what this means for your account. We will continue to ensure you are provided with plenty of notice of any changes in line with all legal and regulatory protections. Your Mortgage will transfer automatically. Bank of Ireland have writtento you as well with important information. We will continue to keep you up to date with any further information and next steps.
What you need to do...
You should continue to make your Mortgage repayments as normal. Make sure your contact details are correct and up to date so we can keep you informed, and Bank of Ireland can contact you directly about the transfer of your Mortgage Account.
Your Payments
Direct Debits will automatically transfer to Bank of Ireland. If you do not currently pay your mortgage by Direct Debit and if you would like to set one up you don’t have to wait until your mortgage transfers, it may be more convenient for you to set one up now. That way your Direct Debit instructions will transfer to Bank of Ireland automatically along with your mortgage. You can do this by contacting the KBC customer service team. If you’re worried about making your mortgage payments, please get in touch with the KBC Arrears Support Team at 0818 93 02 35.

Guide to Next Steps
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Arrears Support Customers
If your Mortgage is in arrears or on an repayment arrangement, the information set out above also applies Your current arrangement will remain in place and Bank of Ireland will get in touch with you with more details on how their Arrears Support Unit will support you in managing your Mortgage.

Mortgages Help Hub

What's changing?

Are you an existing customer? We've put together some useful information for you to help you prepare for the changes ahead.

Your Mortgage

If you already have a Mortgage you do not need to take any action for now.

Your Mortgage will transfer to Bank of Ireland at a future date.

Where there are operational changes to how Bank of Ireland will manage your Mortgage Account, Bank of Ireland have communicated these changes to you. All changes will be made in line with regulatory and contractual obligations, including providing you with sufficient written notice of these updates (at least 60 days). Bank of Ireland also let you know when these changes come into effect.

Important Info

Important Things to Know…

Direct Debits will automatically transfer to Bank of Ireland*. If your Mortgage transfers and you do not pay by Direct Debit, you will need to update your repayment method. There is no need to do this until you are provided with your new repayment details from Bank of Ireland. For now, it is important to continue to make your repayments as normal.

If you are drawing down your mortgage in stages, the process will continue as agreed in your loan offer terms and conditions.

If you currently receive a mortgage discount with your KBC Current Account, you will continue to do so when you transfer to Bank of Ireland. You will not be required to open a Bank of Ireland Current Account to avail of this discount. You can close your KBC Current Account and your Mortgage Discount will be honoured by KBC Bank Ireland and by Bank of Ireland once your mortgage transfers.

 

*If you currently hold a sterling mortgage with KBC Bank Ireland this mortgage will transfer to Bank of Ireland. In this instance you will need to set up a new direct debit mandate with Bank of Ireland. Bank of Ireland will write to you to outline the next steps in advance of the transfer.

Top FAQs

What happens if I have a fixed rate mortgage?

You will keep your current fixed rate and your current fixed rate period. If your fixed rate is due to come to an end you will be given at least 60 days’ notice in advance so you can consider your future rate options. If you are a KBC fixed rate mortgage customer and your fixed rate is due to expire before or during the transfer, KBC will send you notification of all your rate options, and Bank of Ireland will honour the KBC rate which you select. If your fixed rate expires after your mortgage transfers to Bank of Ireland, notification will be sent by Bank of Ireland outlining their rate options at that time.  

What if I want to move my mortgage to a lender other than Bank of Ireland?

You can change to a mortgage provider of your choice by contacting them directly or through your Mortgage Broker. Please note, if you are a Fixed Rate Mortgage customer, you may need to pay a break funding fee if you change lender during your fixed rate period as per existing Terms & Conditions. Variable Rate Mortgage customers will not have to pay a break funding fee. You will need to complete a mortgage application with your new provider and ensure you meet their lending criteria.

What will happen to my tracker rate?

Your tracker margin and corresponding terms will transfer to Bank of Ireland.

I would like to make an overpayment on my Mortgage can I still do this?

There is no immediate impact as a result of the announcement. Your existing terms and conditions are not impacted. Variable rate customers can make overpayments as you wish. For fixed rate customers you can pay up to 10% of the amount of your Mortgage as of the date the Mortgage rate was fixed without incurring a break funding fee. If your mortgage balance is split into variable and fixed rates then it will be the balance on your fixed portion. If you exceed the 10% amount you may incur a break funding fee on the amount over 10% that you repay.

Can I apply for a top up to my Mortgage now with KBC?

Since 15th July 2022 KBC are no longer accepting new Mortgage applications including top ups on existing Mortgages.

I have an existing AXA accident, sickness and unemployment policy, what will happen to the policy?

If you have an existing AXA accident, sickness and unemployment policy relating to your Mortgage, at a date in the future KBC will no longer be acting as intermediary and administering the policy as an agent of AXA and this role will be assumed by Bank of Ireland. There will be no impact on the policy itself. You may need to take an action in the future to update your AXA payment method. You will receive more information from Bank of Ireland on how to complete this at the appropriate time.

 

Recently Applied

Please note: We are no longer accepting applications for Mortgages. If you made an application on or before the 15th July 2022 it will continue to be processed as normal.

I have a Mortgage Approval in Principle (AIP), what does this announcement mean for me?

If you have an Approval in Principle (AIP) and you wish to proceed to loan offer stage you must do so before the expiry date specified in your AIP. You must satisfy any conditions outlined in the AIP to the satisfaction of KBC.

An AIP enables you to determine how much money you can borrow when looking for a home but you should remember it is not a formal Loan Offer. Therefore, you should not rely on the AIP to enter into a binding contract when buying your home (including at an auction).  

I have a Mortgage Loan Offer, what does this announcement mean for me?

If you are at Loan Offer stage in advance of the transfer date to Bank of Ireland, your Loan Offer will transfer to Bank of Ireland on the same terms and conditions as set out in your KBCI Letter of Offer. If you are drawing down your mortgage in stage payments, the process will continue as agreed in your loan offer terms and conditions. Once your loan offer transfers to Bank of Ireland they will then support you in your mortgage journey. 

Where there are operational changes to how Bank of Ireland will manage Mortgage Accounts, Bank of Ireland will clearly communicate these changes to you. All changes will be made in line with regulatory and contractual obligations, including providing you with sufficient written notice of these updates (at least 60 days). Bank of Ireland will also let you know when these changes come into effect. If your loan offer includes a cash contribution towards professional fees KBC will continue to honour this in line with terms and conditions. For more details please check out our Mortgage Incentives page.

If I drawdown my Mortgage with KBC, what will happen to my Mortgage in the future? 

If you are drawing down your mortgage in stages, the process will continue as agreed in your loan offer terms and conditions. Your Mortgage will transfer to Bank of Ireland.

Where there are operational changes to how Bank of Ireland will manage your Mortgage Account, Bank of Ireland will clearly communicate these changes to you. All changes will be made in line with regulatory and contractual obligations, including providing you with sufficient written notice of these updates (at least 60 days). Bank of Ireland will also let you know when these changes come into effect.


From the 1st of June 2022, if  you decide to close your KBC Current Account your Mortgage Discount will be honoured by KBC Bank Ireland and by Bank of Ireland when your mortgage transfers to Bank of Ireland. 

Mortgages Existing Customer Options

and need some additional support?

Are you an existing customer

I'd like to find out more about Loan to Value rate options
I'm interested in Fixed Term Rates
Fixed Rate Options for Customers with tracker interest rates

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Important Information about your existing KBC Mortgage

  • The reduced new business rate (with a KBC Current Account) of 2.25% (APRC 2.9%) Fixed is based on a 2 Year <=60% Loan to Value (LTV). At the end of your fixed rate period you will roll off on to a new business LTV variable roll off interest rate determined by Loan to Value at initial drawdown. Information correct as at 1st December 2020.

    Lending criteria, terms and conditions apply. The property is mortgaged to secure the loan. Life and home insurance are required. The maximum loan amount will typically not exceed 3.5 times an individual’s gross annual income. The maximum mortgage is 90% of the property value. As a general rule, loan amounts are subject to monthly repayments of a maximum of 50% of disposable income and will vary according to individual circumstances. A typical variable rate PDH (Private Dwelling House) mortgage of €100,000 over 240 months costs €579.96 per month at 3.50% (APRC 3.57%). The total amount repayable is €139,190.33. The LTV (Loan to Value) Variable rate of 3.50% (APRC 3.57%) variable is based on a loan to value of >80%-90%. A 1% rise in interest rate will increase this payment by €52.69 per month. APRC = Annual Percentage Rate of Charge and consists of a variable borrowing rate of 3.50%, valuation fee of €150.00 and security release fee of €38. Information correct as at 1st December 2020. Rates may vary over the term of a mortgage.

    Buy-to-Let terms

    Lending criteria, terms and conditions apply. Security and insurance are required. The maximum mortgage is 70% of the property value.

    Where the purpose of the loan is to Purchase or Remortgage a property that is not intended for use as a family home, where the amount of the loan is more than €75,000 and does not exceed €1,500,000, KBCI will appoint one of its Panel Solicitors to act on its behalf and liaise with the borrowers and their Solicitor directly. The legal costs of KBCI shall be up to €1250 plus VAT and outlay in respect of the property over which the KBCI is taking security. These costs shall be paid by the Borrower in cleared funds directly to the KBCI's solicitor on closing.

    Information correct as at 1st December 2020.

  • First Time Buyer & Mover Incentive

    A contribution of €1,500 towards your professional fees (legal and valuation costs) is available subject to the following conditions:

    A fully completed Private Dwelling House (PDH) application form is submitted to KBC on or before 15th July 2022;

    KBC subsequently approve your mortgage application and you draw down the mortgage within the availability period set out in your Letter of Offer;  

    You draw down the full amount of the mortgage on either a 3, 5 or 10 year fixed interest rate;

    You are a first time buyer or are moving house and it is your principal private residence;

    You do not exceed the maximum Loan to Value and/or Loan to Income thresholds required by the Central Bank of Ireland;

    The payment of the contribution will be made by electronic transfer within 30 days of the drawdown of the mortgage to the account from which the monthly mortgage repayment is or will be paid;

    The contribution is not available
    (i) in respect of buy to  let properties,
    (ii) where you are switching the mortgage on your existing property to KBC from another lender and/or (iii) where you are availing of our tracker mover product. 

    Please Note
    Please ensure you review all the mortgage rate options available to you to identify the most appropriate for your personal circumstances. You may also like to get independent advice before deciding to avail of the offer from your solicitor or speak to a financial advisor.In order to receive this contribution you will be fixing the interest rate on your mortgage for a period of either 3, 5 or 10  years (the fixed period).  Before agreeing to fix your interest rate you should be aware of the following:-
     
    When you choose a fixed rate, you know exactly how much your monthly mortgage repayment will be during the fixed period.

    If your mortgage is redeemed either fully or partially during the fixed period you may be charged a break funding fee.  You should  consider whether a change in your circumstances might occur (such as needing to sell the property or paying off a lump sum from your mortgage) which may result in you incurring this fee.  Details of how this fee is calculated is included in your Letter of Offer. 

    During the fixed period you will not be subject to any interest rate increases or decreases (subject to a number of limited exceptions set out in our General Homeloan Conditions).

    On the expiry of the fixed period your interest rate will revert to our then current New Business PDH Loan to Value (LTV) Variable Rates.

    We reserve the right to amend, modify, cancel, withdraw or change the terms on which this contribution is available at any time at our sole discretion.


    Central Bank Mortgage Measures:

    The Central Bank Mortgage measures are ceilings set on the amount of money that can be borrowed to buy residential property using:

    Loan to Value (LTV) limits
    Loan to Income (LTI) limits.

    Loan-to-Value limitsThe LTV limit requires you to have a minimum deposit before you can get a mortgage. The size of this deposit depends on what category of buyer you are.

    First-time-buyers are required to have a minimum deposit of 10%
    Second and subsequent buyers are required to have a minimum deposit of 20%

    Loan-to-Income limits
    The LTI limit restricts the amount of money you can borrow to a maximum of 3.5 times your gross income. So for example, a couple with a combined income of €100,000 can borrow up to a maximum of €350,000.

     

     

    Switcher Offer

    A contribution of €3,000 towards your professional fees (legal and valuation costs) is available subject to the following conditions: 

    (1)    A fully completed Private Dwelling House (PDH) application form is submitted to KBC on or before 15th July 2022;
    (2)    KBC subsequently approve your mortgage application and you draw down the mortgage within the availability period set out in your Letter of Offer;  
    (3)    You are switching the mortgage on your existing property to KBC from another lender, it is your principal private residence; 
    (4)    The payment of the contribution will be made by electronic transfer within 30 days of the drawdown of the mortgage to the account from which the monthly mortgage repayment is or will be paid; and
    (5)    The contribution is not available (i) in respect of buy to  let properties, (ii) where you are a first time buyer or a moving home and/or (iii) where you are availing of our tracker mover product.

    We reserve the right to amend, modify, cancel, withdraw or change the terms on which this contribution is available at any time at our sole discretion.

  • 25% off only applies in the first year. Offer expires 15th July 2022. If the KBC Home Insurance policy is cancelled before the first 12 months has expired, KBC reserves the right to request the customer to refund the balance of the premium. KBC Home Insurance quotes are valid for 30 days from receipt. KBC Bank Ireland plc has an exclusive agency agreement with Zurich Insurance plc for the provision of Home Insurance. KBC Home Insurance products are underwritten, administered and provided by Zurich Insurance plc. Zurich Insurance plc is regulated by the Central Bank of Ireland. 

WARNING: IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME.
WARNING: YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED RATE LOAN EARLY
WARNING:  THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE.