Hi, I got a letter from Pepper to say my fixed rate is now over and is gone up to 7.2%.My mortgage was sold from PTSB. I ran into difficulty when my ex husband walked away from paying and I could only afford my half as I had to support my two children and the house.I did go through insolvency about 5 years ago, and an agreement was made throught the courts ,but it seems that has gone by the wall. My repayments are gone from 650 euro before Christmas to just 1000 euro now.Anyone know is there any one I can talk too.i will ring pepper tomorrow, but probably won't get much help. Thank-you.
Pepper finance mortgage rates 7%
- Thread starter Shellyg
- Start date
Brendan Burgess
Founder
- Messages
- 52,184
Hi Shelly
Sorry to hear that.
I have highlighted this issue on many occasions. The lack of control on vulture funds but the government and the Central Bank look away. They don't want to know.
Do you have a split mortgage or are you paying interest on the full amount?
You can tell Pepper that you are in trouble and they give some people who show inability to pay a lower rate.
You can also complain to the Central Bank and to your politicians. But they will ignore you.
Brendan
Sorry to hear that.
I have highlighted this issue on many occasions. The lack of control on vulture funds but the government and the Central Bank look away. They don't want to know.
Do you have a split mortgage or are you paying interest on the full amount?
You can tell Pepper that you are in trouble and they give some people who show inability to pay a lower rate.
You can also complain to the Central Bank and to your politicians. But they will ignore you.
Brendan
Hi Brenda
I am just paying interest only , which is unfortunate since they want nearly a 1,000 euro. I will ring them tomorrow and see what they say. Thanks for your reply.
For what it's worth...
www.centralbank.ie
www.centralbank.ie
www.citizensinformation.ie
How does the Central Bank protect people in mortgage arrears?
The Central Bank has a statutory Code of Conduct on Mortgage Arrears (CCMA) that lenders must follow. Explore our infographic about how the CCMA works.
Mortgages and financial difficulty
If you are struggling to pay your mortgage because of rising interest rates – you may feel overwhelmed and worried about what may happen.
Alternative repayment arrangements for people in mortgage difficulty
Information on alternative repayment arrangements and other options for people faced with mortgage arrears. Issues to consider when assessing your options.
I’m also on the last couple of years of a fixed rate, and my mortgage is sold to pepper.
My experience with looking to switch to a credit union mortgage is the same as a bank….you can only borrow 3.5 times your salary…and they dont take certain incomes into account ( my wife is on careers salary) also add a couple of kids and the likely hood of switching becomes very slim.
I’m hoping when my time comes. Pepper will see how unaffordable a high interest rate is and look at it practically.
Good luck with this situation, I hope you can get some favourable solution.
My experience with looking to switch to a credit union mortgage is the same as a bank….you can only borrow 3.5 times your salary…and they dont take certain incomes into account ( my wife is on careers salary) also add a couple of kids and the likely hood of switching becomes very slim.
I’m hoping when my time comes. Pepper will see how unaffordable a high interest rate is and look at it practically.
Good luck with this situation, I hope you can get some favourable solution.