I had an investment mortgage with ptsb and was moved to pepper this year.
At ptsb i was on interest only for some time - but later changed to part capital - never missed any payments. I was contacted or i should say notifed that my mortgage was going with a bunch of others to be sold/transferred to Pepper.
Next thing I know im had about 5 rate rises in as many months with pepper. Obviously my tracker mortgage is now gone - and i never had any choice in the matter.
Have I any leg to stand on - or is this just "part of the game".
The three official interest rates the ECB sets every six weeks as part of its monetary policy to steer the provision of liquidity to the banking sector.
Pepper have taken over your mortgage, but there should be no change in your terms and conditions.
Your interest rate will rise, if the European Central Bank raises its rates. Unfortunately, for tracker mortgages, this has happened 5 times this year and is likely to happen again in the next few months.
Pepper should write to you each time to notify you of the increase to your mortgage payment, with the new amount clearly stated.
If you are having difficulties meeting the payment you have to contact Pepper, on their helpline. The number is on the attached link.
This also has a useful list of questions relating to the transfer of your mortgage.