Note- moved from another thread - Brendan
I have my PPR with Pepper who bought it from Danske. It's a tracker. Won't be paid off for approx 12 years. Should I be concerned about tracker rate changing or do they have to stick with orginal terms and conditions?
Also a relative has several interest only investment properties with them. Making all interest payments but properties are in negative equity and in hindsight interest only was a bad idea as they will never be repaid. Full capital amounts remain outstanding with about 7 years to run. Are Pepper/ proteus likely to let the mortgages run their term or are they likely to be in touch before that ? He is worried about his PPR as it is in positive equity on an interest and capital basis. Can they come after it even though the mortgages are not cross charged against family home ?
I have my PPR with Pepper who bought it from Danske. It's a tracker. Won't be paid off for approx 12 years. Should I be concerned about tracker rate changing or do they have to stick with orginal terms and conditions?
Also a relative has several interest only investment properties with them. Making all interest payments but properties are in negative equity and in hindsight interest only was a bad idea as they will never be repaid. Full capital amounts remain outstanding with about 7 years to run. Are Pepper/ proteus likely to let the mortgages run their term or are they likely to be in touch before that ? He is worried about his PPR as it is in positive equity on an interest and capital basis. Can they come after it even though the mortgages are not cross charged against family home ?
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