ABN AMRO investigates complaints Euribor-linked mortgage
- Products and services
Dutch daily Het Financieele Dagblad reports on a court case Stichting StopDeBanken wants to bring against ABN AMRO. ABN AMRO and Stichting StopDeBanken have recently been in close contact about the increase of the Euribor surcharge rate, from 1 to 2 percent on1 July.
Clients with a Euribor-linked home mortgage,pay an average interest rate of 2.3 percent, including the higher surcharge.The increase was prompted by recent developments in money and capital markets,making it more expensive for banks to borrow money. ABN AMRO has long refrained from increasing the Euribor rate, but has now been compelled to do so as from 1 June2012. The increase raised questions and led to discussions with some of the bank’s clients. Several private clients have asked Kifid’s Ombudsman to investigate the matter.
ABN AMRO always informs its clients of the possibility to refer complaints to Kifid’s Ombudsman, and is open to this. The bank has informed StopDeBanken it will handle all client complaints individually. That’s why it’s not possible to reach agreements withStopDeBanken that apply to all clients.
Compared with other banks, ABN AMRO still has one of the cheapest Euribor-linked mortgages available in the market. Clients with this mortgage pay attractive interest rates compared with other types of mortgages.