I’m currently with Pepper for my Mortgage. I was a previous Bank of Scotland customer. I have a 1% tracker rate.
I’ve made many overpayments over the years and always get a letter to say amount received and new monthly payment however they’ve stopped this and now when I look on my pepper app I have the following totals.
Principal balance € 51959.31
Arrears balance € -13599
Total outstanding balance € 38359.87
Next payment amount €524.74
Pepper have told me my interest is working on the total outstanding balance but I paid €10000 last month and my interest went up not down. I think I’d an ECB . 25 increase last month but still I expected the interest to drop by some amount. I have 10 years left on my mortgage.
Can anyone tell me if the interest is correct I’m paying?
Interest the month before I paid €10000 was €145.31 interest after was €159.15. My mortgage date is the 20th but I always pay early on the 1st.
Thanks for any advice.
I’ve made many overpayments over the years and always get a letter to say amount received and new monthly payment however they’ve stopped this and now when I look on my pepper app I have the following totals.
Principal balance € 51959.31
Arrears balance € -13599
Total outstanding balance € 38359.87
Next payment amount €524.74
Pepper have told me my interest is working on the total outstanding balance but I paid €10000 last month and my interest went up not down. I think I’d an ECB . 25 increase last month but still I expected the interest to drop by some amount. I have 10 years left on my mortgage.
Can anyone tell me if the interest is correct I’m paying?
Interest the month before I paid €10000 was €145.31 interest after was €159.15. My mortgage date is the 20th but I always pay early on the 1st.
Thanks for any advice.