Oireachtas Joint and Select Committees

Tuesday, 21 May 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Matters Relating to the Banking Sector (Resumed): KBC Bank

Photo of Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

In regard to mortgages and LTV rates, KBC operates a high rate for greater than 90% and a much lower rate for a lower LTV. It has been estimated that there are approximately 32,000 customers who could save quite a bit if they sought valuations. What is KBC doing in that regard? To be fair, the offering is available and people can exercise it. It is probably not in the bank's financial interest, but the bank has a duty of care to those customers. How well has KBC publicised that there are up to 32,000 customers who could save €1,400 per annum?

We are all looking at various ways to cut our costs, including changing mobile phone and ESB tariffs. There are few ways by which one can save €1,400 that easily.

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