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.