Resolution
New Member
- Messages
- 7
I have posted here before and received good advice on my situation with Pepper who have offered me an ARA as follows :
The offer letter I received says ‘The interest rate applicable to your mortgage will be subject to change if there is a change in interest rate in accordance with the terms and conditions of your mortgage.' To date my interest rate has never decreased. Pepper have stated on the phone that they can’t give any guaranteesthat they will decrease the rate and I should ask for financial advice.
The offer makes my situation more manageable, but I’m concerned that I could get stuck on a high rate when the ECB rate eventually decreases. I'm guessing there's not much more I can do but accept the offer and try to renegotiate if/when the ECB rate decreases? My question is whether this is advisable or if there's anything else you think I can do to secure some assurance form Pepper that they won't leave me on a high rate. Thnaks in advance.
- Increase of the mortgage term by 40 months – until August 2043.
- Reduction in the interest rate from 7.9% to 6.5%.
- Means a reduction in monthly repayments from €2447 to €2030.00
The offer letter I received says ‘The interest rate applicable to your mortgage will be subject to change if there is a change in interest rate in accordance with the terms and conditions of your mortgage.' To date my interest rate has never decreased. Pepper have stated on the phone that they can’t give any guaranteesthat they will decrease the rate and I should ask for financial advice.
The offer makes my situation more manageable, but I’m concerned that I could get stuck on a high rate when the ECB rate eventually decreases. I'm guessing there's not much more I can do but accept the offer and try to renegotiate if/when the ECB rate decreases? My question is whether this is advisable or if there's anything else you think I can do to secure some assurance form Pepper that they won't leave me on a high rate. Thnaks in advance.