Pepper Advantage will soon start contacting approximately 10,500 residential mortgage customers to notify them of new and further decreases in variable mortgage rates on their loans.
These latest rate adjustments, which range between 0.25% and 0.5%, reflect ongoing changes in the interest rate environment and Pepper’s continued commitment to passing rate reductions to customers in line with its variable interest rate policy.
As before, these rate reductions will primarily apply to those customers who have experienced the highest increases since the ECB implemented ten consecutive rate increases beginning in July 2022.
Pepper continues to review the situation for remaining variable rate customers and expects to be able to announce further VR reductions in due course subject to further ECB rate reductions.