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Pepper Mortgage Help

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  • 18-08-2023 1:27pm
    #1
    Jampot16
    Registered Users Posts: 1 ✭


    Hi All,

    Hopefully found right forum, if not can it be moved to correct one :)

    I have an old Bank of Scotland mortgage which was sold to Pepper Mortgages. I was laid off work during Covid and unfortunately went into arrears, I reached out to Pepper for assistance and got no help from them. I did pay a percentage of my due amount to show I was trying my best. I have managed to secure employment, been in touch with MABS and with their help agreed with Pepper to pay the amount due per month for 7 months and then Pepper would do an ARA with me and recap the arrears back into the mortgage so essentially I would no longer be in arrears and be back paying normal.

    as you all know, the rates have been going up alot recently which meant the ARA kept being changed or taken away and started afresh, but I have managed to keep my repayments up to include the new rates each time.

    Not looking for financial advice but would another lender or broker be able to help me with a switch or something? I know I would lose the tracker but to not be with a bank who I can actually talk to is frustrating. I am paying it back. Would the ARA be considered as proof that I am doing my best?

    Thanks to anyone who replies



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    #2
    tamara25
    Registered Users Posts: 363 ✭✭tamara25


    I can’t offer you any advice but we are also with Pepper. We were paying interest only on our mortgage for a period of time & it was sold from ptsb to Pepper. It has gone up by €400 per month since October. It is so depressing as we are at the stage where we don’t have enough money to do a full food shop at weekends. Another interest rate coining in September. What are we going to do? I’ve even thought of selling the house & renting? At least we would have no mortgage. Is it worthwhile contacting a local td? It’s a nightmare



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    #3
    Mrs OBumble
    Registered Users Posts: 25,689 ✭✭✭✭Mrs OBumble


    https://www.boards.ie/discussion/comment/120997698#Comment_120997698

    Can you get a 2nd job? Renting has its own challenges- and that's if you can find a place to rent.

    Strongly suggest you contact MABS before making any decisions.



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    #4
    tamara25
    Registered Users Posts: 363 ✭✭tamara25


    Thanks for your reply. I do know about mabs & how they help people to manage their money more effectively. Both of us are already working full time & it still isn’t enough… my husband is also very fond of going to the pub at the weekends. I’ve mentioned to him about cutting back on this as the money could be used for something else but it’s like talking to the wall. It’s like he has his head in the sand and not acknowledging how serious things are getting for us. I’m so tired of it all. I would like to be able to go for some counselling to talk to someone about our problems but can’t afford that either.



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