Pepper Advantage will begin issuing new communications in January to notify approximately 9,000 residential mortgage customers of further decreases in variable mortgage rates on their loans.
Decisions to lower rates for certain Pepper Advantage customers are linked to rate reductions previously announced by the European Central Bank (ECB) and are based on the criteria set out in Pepper’s variable interest rate policy.
Rate decreases being announced will range from 0.35% to 0.5%, and the majority of the customers receiving this reduction will receive decreases of 0.5%.