28 July 2023 – Pepper will today start notifying certain residential mortgage customers of increases in their variable rates.
The increases range from 0.5% to 1.25% and arise from a number of recent rate increases announced by the European Central Bank (ECB), which now total 4.25% in the past 12 months.
The rate increases will be passed on to the majority of the 21,000 residential variable rate mortgages serviced by Pepper. Currently, the average variable rate for residential customers serviced by Pepper is 6.3%, noting some loans will have a higher rate and some loans will have a lower rate.
For those customers most impacted by rising interest rates and the rising cost of living, we have a broad range of solutions available. We will work with customers to put a solution in place that addresses their unique and individual circumstances and affordability.
Customers can contact our team on 0818 828 828 and we can find the best possible solution based on each customer's individual situation.