Pepper Advantage will shortly start contacting approximately 10,500 residential mortgage customers to notify them of new and further decreases in variable rates on their loans.
The decision to lower rates is linked to recent rate reductions announced by the European Central Bank (ECB) and based on the criteria set out in Pepper’s variable interest rate policy.
Pepper will be announcing rate reductions of between 0.25% to 0.5% to customers, the majority of which will receive 0.5% and as before these 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.