Hi,
I'm sure many of you are in a similar situation as I am and I am trying to find any further information on the sale above - Bank of Scotland Ireland to Pepper.
I have had a mortgage with BoS-I (originally Halifax) for over 10 years, no payments missed - I haven't bothered them and they have left me alone! Their variable interest rate has also been quite good and is lower than anything available on the Irish market. As a result, we have been able to meet the repayments on the mortgage and still live!
However, with the sale to Pepper I am concerned. The rates on the Pepper website are significantly higher than what we are currently paying to BoS-I and I am worried that in a month or so, I'll get a letter saying my interest rate has been increased by, say 1 or 1.5%. This will seriously impact my ability to pay the mortgage.
I'm sure some people will respond to say that as Pepper now own the mortgage, they can do what they like. I just want to get an idea of what may lie ahead and if I have any protection from them doing that? Has anyone else had a variable rate mortgage transferred to them and were there then big changes to the interest rates charged?
Any help would be appreciated, thanks!
I'm sure many of you are in a similar situation as I am and I am trying to find any further information on the sale above - Bank of Scotland Ireland to Pepper.
I have had a mortgage with BoS-I (originally Halifax) for over 10 years, no payments missed - I haven't bothered them and they have left me alone! Their variable interest rate has also been quite good and is lower than anything available on the Irish market. As a result, we have been able to meet the repayments on the mortgage and still live!
However, with the sale to Pepper I am concerned. The rates on the Pepper website are significantly higher than what we are currently paying to BoS-I and I am worried that in a month or so, I'll get a letter saying my interest rate has been increased by, say 1 or 1.5%. This will seriously impact my ability to pay the mortgage.
I'm sure some people will respond to say that as Pepper now own the mortgage, they can do what they like. I just want to get an idea of what may lie ahead and if I have any protection from them doing that? Has anyone else had a variable rate mortgage transferred to them and were there then big changes to the interest rates charged?
Any help would be appreciated, thanks!