I have an IO mortgage with B of S now Pepper. It is IO for 25 years, of which 13 have elapsed.
They have now written to me requesting 'details of my plan to repay the remaining capital balance due on maturity'. There has never been a missed payment on the mortgage.
I must say I find this extraordinary, while I can understand that they would like to know my financial situation I think it is a cheek to ask, what next, will they ask for details of my health.
My intention is simply to ignore the letter. My question is, does any see any aspect of the matter that perhaps I have not considered, is there any reason why I should not ignore their letter. Is there perhaps some Central Bank requirement that means I will have to sacrifice my first born if I don't share with Pepper.
Thanks for any insights.