Update to reply to all the questions in this thread.
- There is no need for panic
- Your house is not going to be repossessed unless you stop paying it, of course.
- If you have a cheap tracker mortgage, you are not going to lose it
If your financial position has improved, Pepper may seek to move some of the warehouse into capital and interest.
Your split mortgage has a review clause.
If your finances improve, ptsb can move some of the money from the warehouse into the main mortgage.
It is likely that Pepper will be more efficient in conducting such a review.
If your finances have improved, you should consider asking them to put the warehouse into the active mortgage and start restoring your ICB record.
If you might want to trade up in the medium term...
You wouldn't have been able to trade up while you had a split mortgage or reduced capital and interest mortgage.
So if your finances have improved and you might want to trade up, then you should look at moving to paying your mortgage payments in full as soon as possible.
Pepper might increase the mortgage rate on non-tracker mortgages
In theory, Pepper can increase the interest rate as there is no control over mortgage rates in this country (or, indeed, in most countries.)
The main loser in this transaction is ptsb and the taxpayer which owns ptsb
They were forced to sell these mortgages by the Central Bank but it's unlikely that ptsb wanted to sell them.
Brendan