Pepper mortgages closed?

Stoko

Rang pepper office today and it says the office is temporary closed
Are they out of business now?

winksblinks

News says they have been sold to Finance Ireland for residential. My loan offer letter was due to issue this week - application done, valuation paid and ready to go on a house. Devastated.

Stoko

winksblinks wrote: »

News says they have been sold to Finance Ireland for residential. My loan offer letter was due to issue this week - application done, valuation paid and ready to go on a house. Devastated.

https://www.financeireland.ie/announcements/finance-ireland-announces-entry-into-irish-residential-mortgage-market/

Ring them?

winksblinks

Stoko wrote: »

https://www.financeireland.ie/announcements/finance-ireland-announces-entry-into-irish-residential-mortgage-market/

Ring them?

Already did and they don't have any information. I'm in no-mans land I guess as I haven't drawn down yet.

Stoko

I wouldn't worry it be just a week or 2 delay.

winksblinks

God I hope so. Notice given on the rental house and everything so if it falls through I'm really going to be stuck.

Broad72

We are waiting to get approval and they have been delayed and telling us everyday for the last three weeks that we should have a decision "tomorrow", lots of tomorrow's and now this! How do we explain this to the owners of the house we are buying. Pepper have obviously been delaying any approvals and not being honest with us.

Broad72

Also devastated!

winksblinks

Broad72 wrote: »

We are waiting to get approval and they have been delayed and telling us everyday for the last three weeks that we should have a decision "tomorrow", lots of tomorrow's and now this! How do we explain this to the owners of the house we are buying. Pepper have obviously been delaying any approvals and not being honest with us.

That’s my worry too - I got confirmation only yesterday that the loan offer was due to go out. I’ve valuation and everything done. I tried to get clarification from Finance Ireland today but nothing other than call Pepper because until draw down I’m a “pending application”. I’m 4 weeks off moving and very scared over what happens now.

Will Finance Ireland move forward (or be willing to move forward) with people who are ready to draw down???? Pepper would only take a message with a promise of a call back today.

Broad72

They appear very non committal in their press release and only to say that pending customers will be "contacted" with no insight either positive or negative.I am not hopeful unfortunately, I am open to being wrong on this and really hope I am just being unneccessarily pessimistic. Good luck!

winksblinks

Broad72 wrote: »

They appear very non committal in their press release and only to say that pending customers will be "contacted" with no insight either positive or negative.I am not hopeful unfortunately, I am open to being wrong on this and really hope I am just being unneccessarily pessimistic. Good luck!

You too - it’s heartbreaking to get so close.

Saw that as well - “will be contacted” could mean anything as you sat. I’m hoping that a sale of this size will take time to transfer and neither side will want new business to stop during that transition.

I’ll be on the phone first thing tomorrow if they reopen the phone line.

Broad72

Very bad practice to close the phone lines - demonstrates negativity and suspicion from the outset!

winksblinks wrote: »

You too - it’s heartbreaking to get so close.

Saw that as well - “will be contacted” could mean anything as you sat. I’m hoping that a sale of this size will take time to transfer and neither side will want new business to stop during that transition.

I’ll be on the phone first thing tomorrow if they reopen the phone line.

Stoko

Seems that they are back and all should be fine.
They ensured me that nothing will change with the applications and they are being progressed.
Happy days!

winksblinks

Stoko wrote: »

Seems that they are back and all should be fine.
They ensured me that nothing will change with the applications and they are being progressed.
Happy days!

I got the same, thank goodness! We are counted as "current customers". They said a day or two delay in paperwork going out that should have gone out this week. Major relief.

Stoko

The fun of buying a property haha

Stoko

Morning,

Could we post here with any updates of our loan apps? At least we can see if things are really progressing.

I am told I will be hearing from peppers later in the week with a loan offer.

winksblinks

Stoko wrote: »

Morning,

Could we post here with any updates of our loan apps? At least we can see if things are really progressing.

I am told I will be hearing from peppers later in the week with a loan offer.

I was told Friday that mine should be going out today to my solicitor. I'll relax when it does! I'll update as soon as I have any more information.

COH1975

winksblinks wrote: »

I got the same, thank goodness! We are counted as "current customers". They said a day or two delay in paperwork going out that should have gone out this week. Major relief.

Hiya, just wondering if you got any further with Pepper over the past few days? We have application in progress & was told last week after the announcement that our application was gone to the underwriters, but when I checked in with them today they said it was still being reviewed & would go to underwriters in the next few days!! We are a month waiting to get to this stage, is this normal? I’m freaking out that after all this waiting that the underwriters will just decline the application especially now that Finance Ireland have taken over! I’m a nervous wreck . How long did your application take?

winksblinks

COH1975 wrote: »

Hiya, just wondering if you got any further with Pepper over the past few days? We have application in progress & was told last week after the announcement that our application was gone to the underwriters, but when I checked in with them today they said it was still being reviewed & would go to underwriters in the next few days!! We are a month waiting to get to this stage, is this normal? I’m freaking out that after all this waiting that the underwriters will just decline the application especially now that Finance Ireland have taken over! I’m a nervous wreck . How long did your application take?

Mine was with the underwriters for 5 weeks.

COH1975

Good god! I just can’t understand why it takes so long! & it’s so frustrating when you call them & they keep saying it’ll be tomorrow or a few days that then turns into weeks!! We will just have to hang in there, as long as we actually get the loan offer in the end that’s all that matters!! Best of luck with yours

winksblinks

COH1975 wrote: »

Good god! I just can’t understand why it takes so long! & it’s so frustrating when you call them & they keep saying it’ll be tomorrow or a few days that then turns into weeks!! We will just have to hang in there, as long as we actually get the loan offer in the end that’s all that matters!! Best of luck with yours

Thanks! My loan offer was due to be issued to my solicitor yesterday. I got a call confirming this on Monday and was told at that point there would be no more delays. I need to sign contracts and pay the balance of the 10% by the end of next week at the latest so I'll update when I have the loan offer and have sat down with my solicitor.

Stoko

I got a call from them today confirming that they will be issuing my offer in the next couple of days. Will update when I actually get it.

winksblinks

As of this morning my loan offer has still not gone out and is still with the underwriter. I'm running out of time so really hoping it goes out today.

winksblinks

I just wanted to update - got my mortgage paperwork on Thursday and got it and my contracts signed with the solicitors on Friday. Hopefully smooth sailing from this point!

Hope everyone else got sorted.

Stoko

winksblinks wrote: »

I just wanted to update - got my mortgage paperwork on Thursday and got it and my contracts signed with the solicitors on Friday. Hopefully smooth sailing from this point!

Hope everyone else got sorted.

All the best with your new home!

Stoko

winksblinks wrote: »

I just wanted to update - got my mortgage paperwork on Thursday and got it and my contracts signed with the solicitors on Friday. Hopefully smooth sailing from this point!

Hope everyone else got sorted.

All the best with your new home!

COH1975

winksblinks wrote: »

I just wanted to update - got my mortgage paperwork on Thursday and got it and my contracts signed with the solicitors on Friday. Hopefully smooth sailing from this point!

Hope everyone else got sorted.

That’s great news! Mine is finally with the underwriters, so hopefully it will all go well for us! Best of luck with your new house ��

COH1975

winksblinks wrote: »

I just wanted to update - got my mortgage paperwork on Thursday and got it and my contracts signed with the solicitors on Friday. Hopefully smooth sailing from this point!

Hope everyone else got sorted.

That’s great news! Mine is finally with the underwriters, so hopefully it will all go well for us! Best of luck with your new house 😊

technodj

Hi Guys,
Im new to boards. Just checking with you guys to see how you got on after Approval in principle. My file is with the underwriters 2 days. Anyone got any info on how long the process takes or did take. Also do you guys know if they decline many mortgages in the underwriting phase. Seems like a really long process judging from the posts

Thanks in advance

COH1975

technodj wrote: »

Hi Guys,
Im new to boards. Just checking with you guys to see how you got on after Approval in principle. My file is with the underwriters 2 days. Anyone got any info on how long the process takes or did take. Also do you guys know if they decline many mortgages in the underwriting phase. Seems like a really long process judging from the posts

Thanks in advance

Mine was with the underwriters for 9 days, they confirmed yesterday that the mortgage was approved pending valuation, we are now in the valuation stage which takes another 10 days then it will be the loan offer stage I presume that will take another week at least! It is a very long process, they tell me it’s sheer volume of applications that’s causing the delays! Regarding declined mortgages at underwriter phase, they basically said that once the application actually gets to the underwriter phase it’s usually a good sign but that nothing is guaranteed! I’m sure your application will be fine, best of luck with it

technodj

Thanks for the info very much appreciated
Please god it goes well for everyone on the post, Im a month to the day at this.
Keep us posted

winksblinks

Looking back mine was about 3 weeks with the underwriters - it went 1st week in September. Valuation took another 3ish weeks for it to be done and the loan offer written up. The loan offer issued the last week in October, so from the file going to the underwriters to loan offer it was roughly 7 weeks.

I've signed everything with my solicitor and hope to drawdown within the next 4 weeks!

Stick with it, you will get there!

technodj

Thanks for the info, thats an aweful long time. Suppose once you get the keys it be worth the wait. Did you ever hear of anyone being declined in the underwriting stage ?
Thanks again

winksblinks

technodj wrote: »

Thanks for the info, thats an aweful long time. Suppose once you get the keys it be worth the wait. Did you ever hear of anyone being declined in the underwriting stage ?
Thanks again

Apologies for the late response. I was told highly unlikely (unless you fail the stress test, stressed up to 2%) as they have a pre assessment stage that your file goes through before it goes to the underwriters. I did google that particular question a lot when I was applying as well!

technodj

Thanks for that.
I have to send in more bank statements from the last 2 weeks and fill in a salary cert which they didnt ask for initially . Hope thats all they need

technodj

Finance Ireland will take over Pepper from the 7th of Dec heard today

winksblinks

technodj wrote: »

Finance Ireland will take over Pepper from the 7th of Dec heard today

Yep that's true. I got a letter this morning saying I had to drawdown by the 4th of December or the loan offer would be rescinded and I'd have to reapply via finance Ireland. Scrambling this morning to get things over the line as the house is not ready for completion yet.

Shocking lack of notice given the assurances a few weeks ago that there would be no impact on existing customers with loan offers.

technodj

I hope you get It
We got told finace ireland will be the lender.
We still havent been approved fully, left in limbo

winksblinks

Edited to add I got further clarification following a call back from Pepper - situation not as bad as I thought, correspondence was very unclear.

If you have your loan offer, it still stands, you just have to redo all the acceptance paperwork on Finance Ireland headed. I do want to avoid that so I'm pushing to drawdown by next Tuesday.

technodj

Doesnt sound to bad
I was told today that my loan is with underwriters but when & if Its fully approved it will be from finace Ireland...long process all the same

technodj

Pepper is now Finance Ireland

COH1975

We closed yesterday 🥳 it was a long process with Pepper but in the end it went very smoothly & I have to say everyone I dealt with in Pepper were brilliant! I just hope the same customer service will follow with Finance Ireland!

Fol20

COH1975 wrote: »

We closed yesterday 🥳 it was a long process with Pepper but in the end it went very smoothly & I have to say everyone I dealt with in Pepper were brilliant! I just hope the same customer service will follow with Finance Ireland!

From my own dealings. All the same Core on the ground staff will be working in the new company.

winksblinks

COH1975 wrote: »

We closed yesterday 🥳 it was a long process with Pepper but in the end it went very smoothly & I have to say everyone I dealt with in Pepper were brilliant! I just hope the same customer service will follow with Finance Ireland!

I closed Friday and funds were in the solicitors account yesterday. I need a long holiday after the stress of the last few weeks!

technodj

Congrats
Delighted for you. Im currently with the underwriter still awaiting an answer

Willow1984

winksblinks wrote: »

I closed Friday and funds were in the solicitors account yesterday. I need a long holiday after the stress of the last few weeks!

Hi winksblinks iv my offer letter all all legal stuff signed and sent off in the post on friday.. what was your experience like with drawing down ..did it take long. Did they ask for anymore documemtation off you other than what your solicitor sent in. Sorry about all the questions its been a very stressful road to get here im just hoping this is plain sailing from here on out

winksblinks

Willow1984 wrote: »

Hi winksblinks iv my offer letter all all legal stuff signed and sent off in the post on friday.. what was your experience like with drawing down ..did it take long. Did they ask for anymore documemtation off you other than what your solicitor sent in. Sorry about all the questions its been a very stressful road to get here im just hoping this is plain sailing from here on out

Nothing more than was listed in the loan offer letter. That was all provided and sent back from the solicitor. Took about a week for them to cross check the legals and get it signed off. That happened on a Friday and funds were with the solicitor on Monday. After months of a go slow it all happened very quickly in the end. I agree it’s very stressful but you are nearly there and you will soon be celebrating in your new home!

Willow1984

winksblinks wrote: »

Nothing more than was listed in the loan offer letter. That was all provided and sent back from the solicitor. Took about a week for them to cross check the legals and get it signed off. That happened on a Friday and funds were with the solicitor on Monday. After months of a go slow it all happened very quickly in the end. I agree it’s very stressful but you are nearly there and you will soon be celebrating in your new home!

Thanks winksblinks. Please god now it will be as painless as yours was. Fingers cross. I cant wait to finally get a nights sleep again and not loosing it over stress!!!!

winksblinks

Willow1984 wrote: »

Thanks winksblinks. Please god now it will be as painless as yours was. Fingers cross. I cant wait to finally get a nights sleep again and not loosing it over stress!!!!

I finally completely relaxed when the first mortgage payment went out!

Willow1984

winksblinks wrote: »

I finally completely relaxed when the first mortgage payment went out!

😂😂.. Also Should it be me ringing everyday or should it be my solicitor ringing to get it closed. Also what section should i be ringing or do i just speak to a peppers/ finance service customer service representative. I rang today and they could tell me nothing😣

winksblinks

Willow1984 wrote: »

😂😂.. Also Should it be me ringing everyday or should it be my solicitor ringing to get it closed. Also what section should i be ringing or do i just speak to a peppers/ finance service customer service representative. I rang today and they could tell me nothing😣

Get your solicitor to ring the completions dept (on the paperwork they got) and you keep pushing customer service. Keep asking how long, keep reminding them you have a deposit paid and a buyer waiting. Keep asking on what is needed, what is outstanding. Just keep pushing!