Mortgage query

tamara25

Sorry if this isn’t posted in the correct forum, I don’t find it very easy to navigate the site since it changed! So we had our mortgage with P Tsb, we did fall into some arrears when paying it & like alot of other mortgages ours was sold off to Pepper. I assumed we would have the same protection with Pepper? The interest on our mortgage went up recently and our monthly repayment went up by €44 per month. I got another letter from this week to say once again the interest will be going up… I’m getting worried about how much more our payments are going to increase by… I asked them about freezing our interest rate & they can’t offer us this option. They said we could transfer our mortgage to another bank… but can we do this if we are already in arrears? Any advice would be really appreciated!

raxy

You need to go see a good broker, they would have a better idea of what options you would have. Probably depends a lot on how much arrears & your situation now.

Gusser09

https://www.boards.ie/discussion/2058265701/mortgage-query

How much is the arrears and are you paying them off?

tamara25

Thanks for your replies, i appreciate it! Was talking to the other half there, he said our arrears are cleared at this stage. I will look into the broker option too.

tamara25

We didn’t get the 4th increase on our mortgage as promised this month..

wads35

I think there's a case heard in the high court early November 2023 between pepper and a couple who had a mortgage with PTSB . It wasn't in arrears but was still sold to pepper. Their PTSB variable rate was 4.3% and pepper supposedly increased the rate to over 8%.. Couple suing Pepper for too much of an increase as if they were still with PTSB it wouldn't be near that amount. I believe judgment is expected very soon.