I received a letter from Permanent TSB today saying that my BTL mortgage is being transferred to Pepper Finance. Strange as this mortgage has always been fully paid on time, no missed payments, no restructuring, never in arrears, etc. Only 5 years remaining on this mortgage with an outstanding balance of c. €40K on property worth c. €300K. I've been on an interest rate of 5.6% with Permanent TSB for years which is their BTL rate for existing Customers. I'm expecting that Pepper may increase this rate further as I see in the press that they recently increased their rates by 1.25%. I feel that I have been treated shabbily by Permanent TSB and wouldn't recommend them as a bank to do business with - high interest rate for years, existing Customers not switched to same rates as new Customers, and now mtge being transferred to 3rd party with no explanation...
Luckily, I have the funds to clear the mortgage which I may just go ahead and do.
Wondering what others think and has anyone else received a similar letter
Luckily, I have the funds to clear the mortgage which I may just go ahead and do.
Wondering what others think and has anyone else received a similar letter