Pepper reduce interest rates

Sarenco

Frequent Poster
Messages
5,830
Interesting that Pepper are matching AIB with the lowest variable rate on the market at 3.1% for PDH loans with a loan-to-value ratio below 50%.
 

Dauhee

Frequent Poster
Messages
134
I wonder will 3.1% be the magic number that the cartel has agreed upon, never to be outdone
 

Brendan Burgess

Founder
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39,123
They are not quite matching AIB.

AIB pays some costs up front while Pepper charges an arrangement fee of of 0.5% up to a maximum of €1,800.

I have some mistrust of Pepper, but I am not sure why. They reduced the rates by 0.45% - but they could simply increase them by that amount tomorrow. Of course, AIB could do the same and, if Frank gets going, they could do the same.

I am wary of any lender which does not publicly advertise its lending rates and charges. It's very hard to make a comparison.

AIB is embedded in the Irish market. They will presumably try to stay competitive. Pepper, or Frank for that matter, might not care that much about it.

In particular, I would be wary of taking out one of Pepper's sub-prime loans. But I suppose that those borrowers won't have any other option in the present market.

Brendan
 
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