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. Prior to your mortgage transferring to Bank of Ireland, KBC will issue this maturity letter and these options included in this letter will be honoured by Bank of Ireland. Should your fixed rate expire after the transfer, Bank of Ireland will write to you outlining all the rate options available to you.
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.
What will happen to my tracker rate?
Your tracker margin and corresponding terms will transfer to Bank of Ireland.
Can I continue to make my Mortgage repayments from my KBC Current Account?
For now you can continue to make payments as normal.
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.
Please note: If you made an application on or before the 15th July 2022 it will continue to be processed as normal. Upon receipt of your application, we may require additional documentation to assess the application. You will have 30 days from receipt of application to return the required documentation to us.