I've just been told by someone that Pepper sold their mortgage to BOI 4 months ago. I'm really surprised by this.
A.) Why would BOI take on a debt from Pepper - even at a discount, isn't that what the pillar banks are trying to get away from for the last nearly 10 years.
B.) Why would Pepper sell - I know why the typical "vulture fund" would sell, but aren't Pepper actually trying to set up an actual mortgage business in Ireland.
The reason I'm asking is because about 2 years ago I offered Pepper to buy out our mortgage at market value (€201k mortgage - €145k market value at the time) and about 2 months later (after chasing) we got a letter saying application is refused. We are maintaining payments to Shoreline.
Before getting back on to Pepper (through Shoreline) does anyone know/surmise if things may have changed? Really curious about the mortgage sale to BOI.
If a redemption value were offered by Pepper would be looking to switch to EBS.
A.) Why would BOI take on a debt from Pepper - even at a discount, isn't that what the pillar banks are trying to get away from for the last nearly 10 years.
B.) Why would Pepper sell - I know why the typical "vulture fund" would sell, but aren't Pepper actually trying to set up an actual mortgage business in Ireland.
The reason I'm asking is because about 2 years ago I offered Pepper to buy out our mortgage at market value (€201k mortgage - €145k market value at the time) and about 2 months later (after chasing) we got a letter saying application is refused. We are maintaining payments to Shoreline.
Before getting back on to Pepper (through Shoreline) does anyone know/surmise if things may have changed? Really curious about the mortgage sale to BOI.
If a redemption value were offered by Pepper would be looking to switch to EBS.