Article: Pepper to hike some mortgages to 8% as average goes to 6.2%

Pepper Finance, the mortgage services provider used by a number of investment funds for Irish loans acquired after the financial crash, is passing on the full extent of recent European Central Bank (ECB) rate hikes to most of the 21,000 standard variable rate customers it manages.

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The move will fuel the debate over whether the Central Bank should be given the power to cap rates being charged by funds, even though the regulator told Minister for Finance Michael McGrath as recently as this month that it does not want such authority.

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“Pepper does not receive any commercial benefit from the increase in interest rates, which are being directly passed on.” [The increases come from the investment funds such as Carval, Goldman Sachs and Pimco, who bought the mortgages from Irish lenders.]

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“We can work with these customers to explore several different options based on the customers affordability and an assessment of their individual circumstances including fixing the interest rate on the main balance for a period of time,” [emphasis added]

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The last line (about offering fixed interest rates) contradicts what they (Pepper) have said previously. Back in December, they said that they are offering "fixed reduced monthly repayments", not fixed rates, to struggling customers.

Could today's statement be used to make them offer fixed interest rates?

Here is the thread where @Brendan Burgess encourages anyone who is affected to go public as part of a campaign to pressure the government into acting:

Brendan says that campaigns like this go nowhere when it is only the likes of him speaking out – what is needed is the face of a person who is directly affected by the issue appearing in newspaper articles and in TV reports.