Heavyweight
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Hi,i have a tracker mortgage managed by Pepper tracked to euribor rate. Took covid holiday for 6 months after which i resumed payments.
Have received letter from them stating that from now on my monthly payment will be a fixed ammount up to the end of term at current interest rate with an adjustment to be made at the end of term to take into account any change in the euribor rate for the remaining term.
With the liklihood that rates will rise will this lead to a sizeable liability at the end of my term?
Are Pepper pulling a sneaky one and should i insist to continue as i have since the start of my mortgage as i doubt this is being done for my benefit?
Has anyone any advice here or are in similiar position.
Have received letter from them stating that from now on my monthly payment will be a fixed ammount up to the end of term at current interest rate with an adjustment to be made at the end of term to take into account any change in the euribor rate for the remaining term.
With the liklihood that rates will rise will this lead to a sizeable liability at the end of my term?
Are Pepper pulling a sneaky one and should i insist to continue as i have since the start of my mortgage as i doubt this is being done for my benefit?
Has anyone any advice here or are in similiar position.