Pepper: unable to provide basic statements

PFS7979

Frequent Poster
Messages
150
Hi,
I have a relatively small commercial loan administered by Pepper (old NIB loan).

Requested interest certs/statements at end of January. They advised they could issue them after a couple of weeks due to a "system issue". Since then, not heard a whisper from them. No written explanation.. nothing. E-mailed complaint at end of February was ignored. Written complaint in mid March and only 2 x holding letters since then... anybody else with same issue?
 

Superstitious

Registered User
Messages
34
Hi, I'm in the same position with pepper except it's a mortgage account. No statement this year yet and the same system excuse.
 

PFS7979

Frequent Poster
Messages
150
Simply not good enough as their failure has significant knock-on impact on completing financial tax returns and ability to make application for finance...when Ulster Bank had system issues they were rightfully hauled through the coals... Pepper should be reported to Central Bank for this.
 

Shoomac

Registered User
Messages
4
Same here on a mortgage account. They are very slow to provide statements and refusing to explain anomalies. They seem to be allowed to do what they like.
 

Superstitious

Registered User
Messages
34
Hi Brendan,
My mortgage was with Bank of Scotland Ireland. I have been fobbed off three times now about statement. They sent me a letter with the balance of the mortgage only when I pushed. No issues with mortgage.
Do you think these mortgages are going to be sold?
Super
 

Brendan Burgess

Founder
Messages
38,685
Hi Super

I thought that they had been sold.

So Pepper is just doing the admin. BoSI still owns the mortgage.

I don't know what is happening with the statements. Were you ever in arrears? Does the monthly repayment look correct?

Brendan
 

Eureka101

Registered User
Messages
28
Same situation for me.

I requested statements last month and they were unable to provide and instead could only confirm TRS and monthly payments in the form of a letter.
Fortunately it was sufficient for what I needed however it beggars belief that they charge one of the highest rates out there, offer no alternative products or options to reduce rate and still cannot offer basic ‘administrative’ services on behalf of Danske...

Seriously, where is the regulation in this country...?
 

Brendan Burgess

Founder
Messages
38,685
I told Charlie Weston about it and he found out the reason

Hundreds affected by mistakes in mortgage calculations


Hundreds of homeowners have had their monthly mortgage repayments calculated incorrectly by the largest credit servicing firm in the State.

Pepper Asset Servicing has admitted that some people have been charged too much on their mortgages, with others charged too little. Customers have also been issued with incorrect mortgage statements.

...
The problems were exposed last week on the Askaboutmoney.com website run by consumer advocate Brendan Burgess. He said he found it strange that loan-servicing specialists like Pepper had been so slow to contact customers about its errors.


The delay in telling customers about the problems led some people to fear it was a new tracker-like over-charging scandal, Mr Burgess said.

Customers were still not getting answers when they contacted Pepper to get mortgage statements, he added.
 

gimp

Frequent Poster
Messages
98
Ditto here

Ex NIB / Danske Bank Ttracker Mortgage. Their refusal to deal with emails in 2018 is beyond a joke. Still waiting for statements from them no replies to their online email form on https://mypepper.peppergroup.ie/MyPepper.............All you can get on the online system is your payment details and amount owed.....Central Bank needs to act on this shower as they seem to be a law unto themselves
 

Shoomac

Registered User
Messages
4
Just seeing your question now Brendan. Mine was an Irish Nationwide loan.
I’ve noticed in my loan TRS not fully applied, incorrect interest calculation, credit disappearing... I made an offer to buy my loan in full and have had the funds liquidated for almost a year now - but Pepper can’t provide a credible redemption figure and are refusing to explain their anomalies. Very fed up and have engaged a solicitor.

Everyone should seriously check their accounts thoroughly, this is gangster behavior and it’s going completely unchecked!!
 

JanusGold

Registered User
Messages
15
Just seeing your question now Brendan. Mine was an Irish Nationwide loan.
I’ve noticed in my loan TRS not fully applied, incorrect interest calculation, credit disappearing... I made an offer to buy my loan in full and have had the funds liquidated for almost a year now - but Pepper can’t provide a credible redemption figure and are refusing to explain their anomalies. Very fed up and have engaged a solicitor.ow did you go about

Everyone should seriously check their accounts thoroughly, this is gangster behavior and it’s going completely unchecked!!
What is the extent of the calculations Shoomac? Are we talking 100s or 1000s in discrepancies?

I don't think I have received any correspondence from Pepper or an annual statement in a few years. I am not sure where to even begin to determine if they have calculated everything correctly. I have an online login, but it only shows the current balance and the monthly repayment amount.

How did you go about building up the information to challenge them?

Thanks.
 

Superstitious

Registered User
Messages
34
Hi, just seeing if anyone receive a statement from pepper? I have received nothing from them after a number of attempts.
 
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Duggie

Registered User
Messages
32
Received statements about 3 weeks after requesting them over the phone. It’s to do with a remortgage so they got them for me within a week. I think their statements started in February 2018. I requested 12 month statements so the pre-February 2028 statements were sent to me by Danske Bank.

They said on the phone that statements take them time to produce as “they are not a bank”!

Incredible really. I get the feeling that they had to generate the statements manually.
 

Muller

New Member
Messages
1
I have been looking for a statement of our mortgage account from pepper since November and continue to be told that there is a system error and statements cannot be printed.
I came across a thread here dated April 2018 with the same issue. Is it possible that pepper have not issued any mortgage statements to customers in a year and is this legal?
They sent a letter showing payment made and balance but as we have completed a pia last July, we need an update with recapitalised balance and term of loan neither of which appeared on the letter. As far as they are concerned the mortgage is still in arrears and no arrangement has been noted on the account.
Do we have any rights in this situation? Should I seek legal advice?
 

deeobrien

Frequent Poster
Messages
51
I had a Danske mortgage that transferred to Pepper last year. (Had previously only been serviced by Pepper). I got a statement in Feb 2018 (just before the transfer) but had not received a statement for the rest of 2018. I rang them recently looking for an updated statement and they issued it. I got it in the post a few days later. I also got them to send a letter confirming the remaining term a few months back as the ICB record didn't have the correct remaining term on it. I heard other people having trouble getting statements from them but any time I ring they send out what I need. Maybe I'm lucky. I was trying to get them to issue the statements electronically but they would only post them.
 

Brendan Burgess

Founder
Messages
38,685
So it seems that this system error affects some, but not all, customers.

It's astonishing that a year later, people can't get a statement. It's pretty astonishing that Pepper has not updated everyone affected.

Brendan
 

Whitey

New Member
Messages
2
Hi,
I'm ex BOSI, my loan was serviced by Pepper and I received an annual statement in February every year until this year.
I have never missed a payment on the loan.
I rang them in March and they told me I would receive it by the end of April.
So, I gave them a couple of weeks after April and rang them on the 14 May, I was told it I would receive it shortly.
Like you said Brendan, I think it is astonishing that they can't issue an end of year satement until the end of April.
Does any other bank issue annual statements 4/5 months later?
 

Whitey

New Member
Messages
2
Hi,
I spoke to soon... I received the annual statement today. The reason why it took so long is my mortgage was transferred from BOSI to Pepper finance corporation on 28 September last year which meant I received two statements. Hopefully I'll receive it sooner next year
 
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