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 has been 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 have moved to Bank of Ireland
What to expect...
If your account was included in the transfer we have written to you providing notice of the transfer and outlining what this means for your account. Your Mortgage has transferred automatically. Bank of Ireland have written to you as well with important information. If your mortgage has not transferred we will write to you with more information and next steps.
What you need to do...
You can now contact Bank of Ireland with your mortgage queries. Where you have any questions about the Transfer or about your Mortgage generally, please contact Bank of Ireland’s KBC Transition Support team on 0818 210 290, 8am-8pm Monday-Friday (excluding bank holidays) or + 353 1 250 0305 (if calling from outside Ireland). Alternatively, you can find answers to some frequently asked questions at boi.com/KBCsupport.
Your Payments
Direct Debits automatically transferred to Bank of Ireland. If you do not currently pay your mortgage by Direct Debit and if you would like to set one up please get in touch with Bank of Ireland. Where you have any questions about the Transfer or about your Mortgage generally, please contact Bank of Ireland’s KBC Transition Support team on 0818 210 290, 8am-8pm Monday-Friday (excluding bank holidays) or + 353 1 250 0305 (if calling from outside Ireland). Alternatively, you can find answers to some frequently asked questions at boi.com/KBCsupport.

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?

We've put together some useful information for you.

Your Mortgage

KBC Mortgages have transferred to Bank of Ireland, if your mortgage is included in the transfer you will have received a letter from us. If your mortgage has not transferred we will write to you with more information and next steps.

As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support.

If you do not make your mortgage repayments by direct debit, you will need to ensure that the payment details for any future payments to your Mortgage are amended to reflect the new Bank of Ireland payment details. Please refer to communication 3 from Bank of Ireland for further information on amending your repayment method. Should you experience any difficulty updating your repayment method, for a short period, KBC will support you in processing your repayments and provide them to Bank of Ireland on your behalf.

If you make your mortgage repayments by direct debit these transferred automatically. The credit identifier on your statement will change to Bank of Ireland. Please refer to communication 3 from Bank of Ireland for further information on your repayment method.

If you have instructed KBC to take an action on your account e.g. update your address, submission of a Standard Financial Statement, etc. and this action has not been completed this will now be passed to Bank of Ireland for processing. There may be a short delay in completing your request.

If you have an Authorised Third Party engaging with KBC on your behalf you will need to arrange to provide a new authorisation to Bank of Ireland.

What does this mean for my repayments?

If you do not make your mortgage repayments by direct debit, you will need to ensure that the payment details for any future payments to your Mortgage are amended to reflect the new Bank of Ireland payment details. Please refer to communication 3 from Bank of Ireland for further information on amending your repayment method. Should you experience any difficulty updating your repayment method, for a short period, KBC will support you in processing your repayments and provide to Bank of Ireland on your behalf. If you make your mortgage repayments by direct debit these transferred automatically. The credit identifier on your statement will change to Bank of Ireland. Please refer to communication 3 from Bank of Ireland for further information on your repayment method.

What happens next?

Bank of Ireland will now support you in the day to day management of your Mortgage. You will receive further communication from Bank of Ireland to remind you of any actions you may need to take. You will receive a Certificate of Interest and a closing statement from KBC which will include all activity on your mortgage account since your last statement and up to the Service Transfer Date. Where you have any questions about the Transfer or about your Mortgage generally, please contact Bank of Ireland’s KBC Transition Support team on 0818 210 290, 8am-8pm Monday-Friday (excluding bank holidays) or + 353 1 250 0305 (if calling from outside Ireland). Alternatively, you can find answers to some frequently asked questions at boi.com/KBCsupport.

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.  

My fixed rate is ending soon - what do I need to do? 

If you are a KBC fixed rate mortgage customer and your fixed rate is due to expire before or soon after the Transfer, KBC will send you notification of all your rate options, and BOI will honour the KBC rate which you select.  If BOI send you the notification of your fixed rate expiry, BOI rates will apply.

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

As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support. Please refer to the communications you have received from Bank of Ireland.

I want to switch my mortgage to another lender, can I do this? 

Yes, should you wish to switch your Mortgage you can do so by engaging with your lender of choice. You can also visit the Competition and Consumer Protection Commission's website for more information (https://www.ccpc.ie/).  As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support. Please refer to the communications you have received from Bank of Ireland.

What will happen if I fix my KBC Mortgage for example for five years, what will I roll off to when my fixed term ends?

Prior to your fixed rate expiring, as per the existing process and regulatory requirements, you will receive a letter from your Mortgage provider at least 60 days prior to the expiry of your fixed term which will clearly outline the roll off options available to you and how this change could impact your repayments at the end of your fixed rate period. As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support. Please refer to the communications you have received from Bank of Ireland.

What will happen to my tracker rate?

Your tracker margin and corresponding terms will transfer to Bank of Ireland. As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support.  Please refer to the communications you have received from Bank of Ireland.

Can I apply for a top up to my mortgage now with Bank of Ireland?

As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support. Please refer to the communications you have received from Bank of Ireland.

I have a discount on my KBC Mortgage because I have a current account with KBC. What will happen to this discount if my mortgage transfers?

If you currently receive a mortgage discount with your KBC Current Account, you will continue to do so as you have transferred 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. As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support. Please refer to the communications you have received from Bank of Ireland.

I have a discount on my KBC Mortgage because I have a current account with KBC. Can I close my account and still avail of the mortgage discount with KBC and Bank of Ireland when my mortgage transfers?

Yes you can now 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. Please refer to the communications you have received from Bank of Ireland.

Will Bank of Ireland be honouring the overpay and redraw option which some historic customers have been using and availing of?

As your mortgage has now transferred to Bank of Ireland you will now need to contact Bank of Ireland for support. Please refer to the communications you have received from Bank of Ireland.

Will  customers have to complete a new Direct Debit Mandate (DDM) or will BOI onboard the existing DDMS's (Non-KBC Accounts)?

Direct Debits automatically transferred to Bank of Ireland. If your mortgage has transferred and you do not pay by Direct Debit, you will need to update your repayment method. Please refer to the communications you have received from Bank of Ireland.

Will customers who currently make card payments have this ability with BOI?

Bank of Ireland have written to you with more information about repayment methods. Please refer to the communications you have received from Bank of Ireland.

My direct debit was returned unpaid during the period of 25th January - 3rd February, will KBC represent for payment?

Where your direct debit presented for payment during the above period and was returned unpaid due to insufficient funds, KBC Bank will not represent for payment. Please refer to the communications you have received from Bank of Ireland.

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

If you were at Loan Offer stage in advance of the transfer date to Bank of Ireland, your Loan Offer has transferred 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. As your loan offer has transferred to Bank of Ireland, they will now support you in your mortgage journey.

 

 

Mortgages Existing Customer Options

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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.