Pepper - do they have the right to change the terms of our split mortgage?

I am with Pepper. In 2013 I got a split mortgage with PTSB and then my mortgage was sold to pepper. Over the years our repayment upped and there was less in our warehouse fund. We are on a tracker and with the interest rate soaring we can't afford the repayments.

Pepper have agreed to keep the repayments at €1,000 for 12 months. I would presume the the fall would be added to the warehouse fund and we would have more to pay at the end. However they have said that the fall would be divided over the term of the mortgage. This way we will pay more interest. They dont offer a fixed option.

Any information would be great. Do they have the right to change the terms of our split mortgage? Thanks

The terms and conditions of the ptsb split mortgage say that they can regularly review the split and move some from the warehouse into the active part if you can afford it.

Brendan

Thanks Brendan , but should it be moved back to the warehouse if you can't afford it?

It's a matter for negotiation.

They are not under any obligation to transfer money from the active part to the warehouse.

Brendan