Hello KBC Customers

Copies of all Mortgage communications here:

• Comms 1
  
  

  Data Privacy LetterViewPrint

  Data Privacy NoticeViewPrint

  Terms of Business NoticeViewPrint

  
  
• Comms 2
  
  

  Standard Mortgage LetterViewPrint

  A guide to your Bank of Ireland mortgageViewPrint

  
  
• Comms 3
  
  

  Mortgage Letter for non direct debit payments and SEPA Direct Debit MandateViewPrint

  Mortgage Letter for direct debit payments on the 8th, 16th, or 28th of every month ViewPrint

  Change of Mortgage Repayment Date FormViewPrint

  AXA Letter ViewPrint

  Axa MandateViewPrint

  
  
• Comms 4
  
  

  Standard Variable RateViewPrint

  Standard Variable Rate Policy StatementViewPrint

  Non Standard Variable RateViewPrint

  
  

Mortgage Frequently Asked Questions:

• I have an AXA policy in place for my mortgage loan, what action do I need to take now?

  Each month you had paid the premium for your AXA Policy to KBC by direct debit. KBC had paid the AXA Premium(s) (net of their commission) to AXA on your behalf. We’ll now take over KBC’s role in collecting the AXA premium(s) from you and paying them to AXA. The way we’ll do this is different to the way KBC did it.

  If you wish to keep your AXA Policy in place, we need you to set up a separate direct debit for us to continue to collect your AXA premiums from you. See below the link to download our AXA direct debit mandate form. Please complete it and send it back to us.

  AXA Direct Debit Mandate Form

  Address:
  Mortgage Accounts Administration (AXA)
  Bank of Ireland Mortgages
  PO Box 13298
  Cabinteely
  Dublin 18
  D18 RP20
  Ireland

  What are the terms and condition of my AXA Policy?

  Pleas see the link below to your KBC AXA policy terms and conditions:

  KBC AXA Terms and Conditions Brochure

   
  What is the AXA creditor ID?

  The Creditor Identifier (ID) for this AXA direct debit mandate is IE16ZZZ362912.

   
  What is a Creditor ID?

  A Creditor Identifier is a unique reference number which identifies the organisation collecting payments from you by SPEA Direct Debit.

• When did my mortgage account(s) transfer to Bank of Ireland?

  Legal ownership of your mortgage loan account transferred from KBC Bank Ireland plc (KBC) to BOI on 03 February 2023 (the legal transfer date). The transfer of the day-to-day management and servicing of your mortgage loan to BOI completed on 03 February 2023 (the service transfer date).

  BOI now manage and service your mortgage account(s).
  

• Do I need to take any action right now?

  You DON’T need to take an action if any of the following in Table A below applies to you.

  TABLE A

  Scenario	Explanation
  If you made your KBC mortgage repayments by direct debit on the 1st of each month (the repayment date set out in your original mortgage loan offer letter)	You don’t need to take any action, as your direct debit automatically transferred to BOI when your mortgage loan did.
  If you pay by direct debit and had an agreement with KBC to repay your mortgage loan(s) on the 8th, 16th or 28th of each month (a repayment date NOT set out in your original mortgage loan offer letter)	You don’t need to take any action, as your direct debit automatically transferred to BOI when your mortgage loan did.   Please see a copy of this communication we sent you below.   Mortgage letter for direct debit payments on the 8th, 16th or 28th of each month

  If you haven’t already, you may need to take action if any of the following in Table B below applies to you.

  TABLE B

  Scenario	Explanation
  You do not make your mortgage repayments by direct debit	We sent you some important information (Communication 3) to note and some actions you need to take now before your mortgage loan transfers to BOI.   This letter outlines the importance of setting up your ongoing repayments from March to avoid being charged interest on any overdue repayments.   Please see our FAQs “What if I don’t make my mortgage repayments by direct debit?” for more detail and actions you need to take.   Please see a copy of this communication we sent you below.   Mortgage letter for non-direct debit payments
  You have an AXA Policy in place for your mortgage loan	We sent you some important information (Communication 3) explaining a change to the way we collect the AXA premiums and how you will need to set up a new direct debit to pay the AXA premiums if you want to keep the AXA Policy in place. Please see a copy of this communication below.   Mortgage letter for AXA policy holders   Please see our FAQs “I have an AXA policy in place for my mortgage loan, what action do I need to take now?” for detailed information and next steps.
  You have not registered for Mortgage Viewer	You can use BOI’s Mortgage Viewer to view your current mortgage balance, payment schedule, current interest rate, mortgage end date, interest accrued (year-to-date) and much more.   Visit our Mortgage Viewer page to register with your BOI mortgage loan account number which you received in Communication 4.

• What has stayed the same now that my mortgage account(s) has transferred to BOI?

  For all mortgage accounts the following has stayed the same as a BOI mortgage customer:

  • The terms and conditions (T&Cs) of your mortgage loan
  • Your regular repayment amount and how often you receive your statement
  • Your mortgage interest rate
  • Your 0.2% discounted rate (if you have one)
  • The variable interest rate offered to you when your fixed rate period ends
  • Your direct debit
  • The option to redraw overpayments (if you have one)

• What are the changes to my mortgage account(s) after the transfer?

  There are several important operational changes to how we manage and service your mortgage loan from KBC. These changes include:

  • How interest is calculated on your mortgage loan
  • How interest is dealt with if you repay your mortgage early
  • Interest on overdue repayments
  • If you don’t pay by direct debit
  • Direct debit re-presentation
  • Your breakout fee
  • The option to make overpayments when on a fixed rate without paying a break out fee
  • The number of account statements you receive
  • Your valid mortgage loan offer letter
  • No repayments using an automated phone service
  • Repayments using An Post
  • If you have not drawn down your KBC mortgage loan
  • If you have an AXA Accident, Sickness, and Unemployment (ASU) policy

  To see these changes in more detail please check the relevant FAQs below.

• Where can I get a copy of the letter and brochure with the operational changes to my mortgage account(s)?

  Please see below the link to the standard mortgage letter and brochure:

  • Standard mortgage letter.
  • Standard mortgage brochure.

• Have the terms and conditions (T&Cs) of my mortgage changed?

  No, there are no changes to the T&Cs of your mortgage loan with BOI.

• I was in the process of applying for a mortgage with KBC what has happened to my application?

  If you had a KBC mortgage offer letter but you hadn’t drawn down your loan, on the legal transfer date BOI will honour your mortgage offer letter and provide a mortgage loan to you if (a) you meet all the conditions set out in the KBC mortgage offer letter, (b) you do not make any material changes to your mortgage offer letter (e.g. change of address of property to be mortgaged) and (c) the final date for draw down set out in the KBC mortgage offer letter has not passed.

  If you didn’t draw down by the final date for draw down set out in the KBC mortgage offer letter, we may allow you an extension of time to draw down but that will be at our discretion depending on the circumstances of the delay.

  If you could not draw down under the KBC mortgage offer letter, you’ll need to apply to us or another lender for a mortgage loan. If you apply to us, our lending criteria, terms and conditions will then apply.

• How often and how many statements will I receive?

  How often you received your mortgage statements is staying the same.

  If you’ve more than one mortgage loan account (e.g. an initial mortgage loan plus a later top-up mortgage loan secured on the same property), you’ll no longer receive just one account statement for all. You’ll receive an individual statement for each mortgage loan account.

• Am I able to access my mortgage account online?

  Our online Mortgage Viewer tool gives you 24/7 access to view details like your current mortgage balance, payment schedule, current rate, mortgage end date, interest accrued (year-to-date) and mortgage account options.

  Using your mortgage loan account number we sent you in Communication 4, please visit our Mortgage Viewer page where you can register.
  

• What if someone else represents me or helps me concerning arrears?

  If we found from your file that you have provided KBC with written permission to deal with a financial adviser or someone who assists you concerning arrears, we’ll continue to deal with them on your behalf. We may (in some cases) ask for your permission first.

  If you do not want us to continue to deal with a financial adviser or someone who assists you concerning arrears, please visit a branch or write to Bank of Ireland ROI Collections, Baggot Plaza, 27-33 Upper Baggot Street, Dublin 4 D04 VX5 and we’ll remove them as a contact on your account.

• How do I access a copy of my KBC mortgage contract now that the transfer has happened?

  A copy of your original contract can be requested from BOI. If you have any queries regarding your Mortgage please call 01 611 3333 open Monday to Friday 09:00 – 17:00.
  

Mortgage Interest Rate FAQs:

• Has my mortgage interest rate changed?

  No, your interest rate has not changed.

  For fixed rate customers (standard mortgage loans only), this rate applies until the end of the current fixed period. Approximately 3 months before your fixed rate period ends, we’ll send you a list of fixed rates and an additional “one- time” variable rate to choose from (we explain what this is below).

  For variable rate customers, your interest rate did not change on the legal transfer date to BOI. However, as your rate is a variable rate, BOI may vary your interest rate up or down. For example, your rate may change if market interest rates go up or down.

  For tracker rate customers, your interest rate changes in line with any changes the European Central Bank (ECB) makes to the rate on which your tracker interest rate is based.

  Please note: Here are some examples of actions that may cause the amount of interest you’ll pay to rise in future:

  • Missing a mortgage payment
  • Changing the interest rate product or type (e.g. moving from a variable to a fixed rate)
  • Changing the term (duration) of the mortgage loan
  • Changing the agreed regular repayments amount on the mortgage loan
  • Changing the payment date can also sometimes increase the interest you pay

• What is the “one-time” variable rate? (and other “one-time” variable rate questions)

  About 3 months before your fixed rate period ends, we’ll send you a list of fixed rates and an additional “one- time” variable rate to choose from.

  What is the “one-time” variable rate?
  The one-time variable rate will reflect the variable rate you may have been offered had KBC continued to manage and service your account.

  Who does this “one-time” variable rate apply to?
  This rate will be unique to former KBC customers. It will only apply to customers who are on a fixed rate that began or was offered before the legal transfer date and ends on or after the legal transfer date.

  How is the “one-time” variable rate determined?
  When your fixed rate period ends, the “one-time” variable rate you’ll be offered will be the same as your former KBC customer group who transferred on a variable rate. These customers have transferred on the variable rate that was most recently advertised by KBC before the legal transfer date and have stayed on this variable rate since. As is the nature of variable rates, this rate may have varied up or down for these customers since the transfer. The “one-time” variable rate you’ll be offered will match the rate these customers are on when your fixed rate period ends.

  How do BOI set variable rates?
  We set variable rates in accordance with our variable rate policy statement, which we will be sent to you with Communication 4.

  Can I keep the “one-time” variable rate if I fix my rate in future with BOI?
  No. If we agree to enter a future fixed rate with you that begins after the legal transfer date, when that fixed rate ends, this offer will not apply. We’ll offer you a BOI variable rate instead – not the “one-time” variable rate.

• What is the difference in how my mortgage interest rate is calculated?

  KBC systems applied a 30-day month and a 360-day year method to calculate interest on your mortgage loan . BOI systems accrue interest daily on the basis of a 365 calendar day count.

  This change from a 360 to a 365-day count convention generally does not increase the amount of interest you will pay on your mortgage loan, however if the interest is increased, you will not be charged or you will be reimbursed the difference.

• Will my interest rate change if I pay my mortgage loan early?

  If you repay some or all of your mortgage loan before the date when repayment is due (we call this ‘prepaying’), KBC would have stopped adding interest on the amount you prepay from the first day of the month in which you prepay the amount. KBC was not obliged to give that concession under your mortgage offer letter. BOI will not continue that concession. We’ll stop adding interest on the amount you prepay from the date you prepay it.

• Will I have to pay interest on overdue repayment(s)? What will happen if I miss a repayment?

  KBC may not have charged interest on overdue repayments or may have held back from adding interest until the end of the month in which the repayment was missed (or not made in full). KBC were not obliged to give that concession under the T&Cs of your mortgage offer letter. BOI will not continue that concession.

  If you do not pay any sum of money you are due to pay under your mortgage loan on the correct repayment date (or do not pay it in full on the repayment date), we will charge interest on the sum or any part of it that remains unpaid until you pay it in full.

  How this may affect your credit rating
  As your credit rating report isn’t sent to the Central Credit Register (CCR) until the end of the month, there will be no impact on your credit rating or to your credit record with BOI if we receive your monthly repayment before the end of each month (including February 2023).

  Please note: If you don’t pay by direct debit, you should ensure that you make repayment by your contract repayment date each month (as set out in your mortgage loan offer letter).

• Can I go back to a tracker interest rate when my fixed rate ends?

  If you had a tracker rate with KBC and you agreed to fix your rate with KBC before your mortgage transferred to BOI, when this fixed rate period expires, BOI will return you to your tracker margin and ECB Base rate as per your agreement with KBC.

  It’s important to note that if you were on a tracker interest rate when your account transferred to BOI and you subsequently choose any other interest rate type (including a fixed rate), you cannot go back to a tracker interest rate again.

• Where can I find my mortgage reference number?

  You’ll find your mortgage reference number(s) in our Communication 4 letter. If you have any queries regarding your Mortgage please call 01 611 3333 open Monday to Friday 09:00 – 17:00.

Mortgage Payment FAQs:

• Are there any changes to the amount of my mortgage repayments?

  No, there are no changes to your repayment amount, number of repayments or your monthly repayment date. This also means your mortgage term will stay the same too.

• Are there any changes to how I make my mortgage repayments?

  If you pay by direct debit
  If you made your KBC mortgage repayments by direct debit, you don’t need to take any action, as your direct debit automatically transferred to BOI when your mortgage loan did. If you changed your current account provider, please ensure your direct debit details are updated with BOI.

  If you don’t pay by direct debit

  Please see our FAQ “What if I don’t make my mortgage repayments by direct debit ?” for more detail.

• What if I don’t make my mortgage repayments by direct debit?

  If you don’t pay your mortgage loan(s) by direct debit, it’s important you pay your mortgage loan repayment amount by your contract repayment date each month, as BOI will charge interest on the monthly repayment amount you are due to make until it’s paid in full. Your KBC mortgage offer letter says your repayment is to be made by direct debit on the 1st of each month.

  Please see our FAQ “Will I have to pay interest on overdue repayment(s)? What will happen if I miss a repayment?” for an example of how interest is charged on late mortgage repayments.

  &mbsp;
  Making your ongoing repayment
  To avoid being charged interest on any overdue repayments, select ONE of the options below:

  OPTION A – Arrange to repay your mortgage loan with BOI on the 1st of each month

  Option A
  What is my option?	Repay your mortgage loan monthly on the 1st of the month.
  What action do I need to take?	There are 2 ways to start repaying your mortgage loan on the 1st of the month:   1. Repay by direct Debit Complete and return the SEPA Direct Debit Mandate form – using the Freepost envelope you received in a communication we sent you (Communication 3). If you have misplaced this envelope please send it to us at the following address:   Mortgage Accounts administration Bank of Ireland Mortgages PO Box 13298 Cabinteely Dublin 18 D18 RP20 Ireland   This direct debit must start on 01 March 2023. It takes 14 working days to put your direct debit in place.   OR   2. Repay by another repayment method (e.g. standing order) on the 1st of each month (see below the Option B table ‘Alternative ways to pay your mortgage loan’).

  Please note: To avoid interest accruing daily on your monthly repayment amount from the 1st of each month to the date you make your repayment, you should select Option A and make your mortgage payments on the 1st of each month.

  OPTION B – Arrange to repay your mortgage loan with BOI on another date of your choosing

  OPTION B
  What is my option?	Continue repaying your mortgage loan monthly on the date of your choice.
  You do not make your mortgage repayments by direct debit	There are 2 ways to continue repaying your mortgage loan on the date of your choice:   1. Repay by direct Debit Complete and return the SEPA Direct Debit Mandate form using the Freepost envelope you received in a communication we sent you (Communication 3). If you have misplaced this envelope please send it to us at the following address:   Mortgage Accounts administration Bank of Ireland Mortgages PO Box 13298 Cabinteely Dublin 18 D18 RP20 Ireland   OR   2. Repay by another repayment method (e.g. standing order) on your chosen repayment date each month (see below this table ‘Alternative ways to pay your mortgage loan’). Please make sure to inform BOI this is the option you’re choosing. To do this, complete and return the Change of Mortgage Loan Repayment Date form to notify us of this new repayment date, using the Freepost envelope you received in a communication we sent you (Communication 3). If you have misplaced this envelope please send it to us at the following address:   Mortgage Accounts administration Bank of Ireland Mortgages PO Box 13298 Cabinteely Dublin 18 D18 RP20 Ireland   IMPORTANT: All borrowers who choose Option B2 must sign and date this form.

   

  Alternative ways to pay your mortgage loan

  The best way to pay your mortgage loan(s) is by direct debit, however, you can also use the following payment methods:

  • Standing order – If you paid your KBC mortgage repayments by standing order, you’ll need to cancel that standing order and set up a new one using your new BOI mortgage loan details.
  • Bank transfer – Use the BIC and Iban below to make a payment from another bank or non-euro account. Insert your new mortgage loan number as a reference:
    BIC: BOFIIE2D
    IBAN: IE37 BOFI 9000 1710 0238 98
  • Phone – From the service transfer date, you can call a member of our mortgage team on (01) 611 3000 9am – 5pm Monday to Friday, to make a card payment over the phone.
  • Cheque – Cheques should be made payable to: Bank of Ireland Mortgages. Quote your BOI mortgage reference number on the back of the cheque and post to the following address:
     
    Mortgage Accounts administration
    Bank of Ireland Mortgages
    PO Box 13298
    Cabinteely
    Dublin 18
    D18 RP20
    Ireland

  Cash – From the service transfer date, you can pay by cash in-branch. Please note: The range of services (including cash) provided in branches vary. To get more information on the services provided in any branch or find your nearest branch check our Branch Locator.

  What happens if I don’t choose any of the options above?
  If you don’t formalise your repayment date with BOI to the 1st of the month you’ll continue to be charged daily interest on your monthly repayment amount from the 1st of the month to the day you make your repayment in full. This additional interest will accrue and you may be left with an outstanding amount you owe at the end of your term. You will also be in arrears and you will receive arrears notifications from BOI every month.

• If I miss my direct debit will BOI re-present it?

  If you miss a mortgage repayment due to a lack of money in your account, we will re-present (i.e. try again to collect) 5 business days after the repayment was due.

  We’ll only re-present once – the same as KBC.

  Please note:
  Interest will be charged for each day that the payment is not received. We’ll only re-present if there was not enough money in the payment account to make the repayment on the repayment date. We do not re-present a direct debit where the direct debit does not work for another reason (e.g. a technical problem).

• Can I continue to overpay my mortgage without a breakout fee?

  BOI are ending the KBC feature that allowed KBC customers (who have a KBC mortgage offer letter that includes the feature) to repay up to 10% of a mortgage loan on a fixed rate without paying a breakout fee.

  Please note: If you transferred to BOI on a fixed rate of interest, the feature will stay in place for that fixed interest period, which means you will still be able to overpay by up to 10% of your loan balance until the end of your current fixed rate period.

• What are my mortgage repayment options with BOI?
  
  There are several ways you can repay your mortgage loan:

  Direct debit is the best way to ensure your mortgage loan repayments are made on time every month. If you currently may repayments by direct debit it will automatically transfer to BOI when your mortgage loan does. You don’t need to take any action to make this happen.

  Standing order. If you paid your KBC mortgage repayments by standing order, you’ll need to cancel that standing order and set up a new one using your new BOI mortgage loan details.

  Bank transfer. Use the BIC and Iban below to make a payment from another bank or non-euro account. Insert your new mortgage loan number as a reference:
  BIC: BOFIIE2D
  IBAN: IE37 BOFI 9000 1710 0238 98

  Phone. From the service transfer date (a date no earlier than Friday, 3 February 2023) you can call a member of our mortgage team on (01) 611 3000 Monday to Friday 9am – 5pm, to make a card payment over the phone.

  Cheque. Cheques should be made payable to: Bank of Ireland Mortgages. Quote your BOI mortgage reference number on the back of the cheque and post to the following address:

  Mortgage Accounts administration
  Bank of Ireland Mortgages
  PO Box 13298
  Cabinteely
  Dublin 18
  D18 RP20
  Ireland

  Cash. From the service transfer date, you can pay by cash in-branch. Please note: The range of services (including cash) provided in branches vary. To get more information on the services provided in any branch or find your nearest branch check our Branch Locator.

  Please note: You will not be able to make mortgage repayments through An Post or repayments using an automated phone service.

• Am I still be able to redraw overpayments amounts from my mortgage loan?

  If the date of your KBC mortgage offer letter is from 2001 to 2017, you’re eligible to redraw overpayments on your mortgage loan. If you transferred to BOI while eligible to redraw amounts you have overpaid on your mortgage loan, you’ll continue to enjoy this redraw feature for the life of your mortgage loan.

  Please note:

  • You can redraw a minimum of €500 once per month.
  • If you’re in arrears or an alternative repayment arrangement (an arrangement put in place to help you manage arrears) you cannot re-draw unless (a) you use the re-draw to clear your arrears or (b) you first clear your arrears in another way. We will apply any re-draw to repay the arrears on your mortgage loan first.

• Am I still be able to make overpayments during a fixed rate without paying a breakout fee?
  
  BOI are ending the KBC feature that allows KBC customers (who have a KBC mortgage offer letter) that includes the feature to repay up to 10% of a mortgage loan on a fixed rate without paying a breakout fee.

  However, if you are coming to BOI on an existing fixed rate the feature will stay in place for that fixed interest period, which means you are able to overpay by up to 10% of your loan balance until the end of your current fixed rate period

Mortgage Forms

Please see our table below for any forms you may need regarding your mortgage repayment(s).