Pepper enter the market

This is great news. It might make the banks sit up a bit.

I was going to fix with BofI but might hold off for a bit longer to see how the wind blows.
 
Mackemdub said:
I heard a rumuor a couple of weeks ago that this was happening

http://www.independent.ie/business/...t-time-buyers-topup-for-deposit-34383436.html

slightly disappointing lowest rate of 3.55% but to be expected, they were never going to come in at 3% or less were they when all they have to do is compete a little.

Hopefully it will begin a competitive rates situation, in time, instead of the incentive led lending we have now
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Pepper have charged 5.8% for GE mortgages since they bought them and never passed on any CB interest rate decreases. ?????
 
amok said:
Pepper have charged 5.8% for GE mortgages since they bought them and never passed on any CB interest rate decreases. ?????
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Playing devil's advocate, why should they? GE Mortgages are a subprime lender whose rates are a function of the risk associated with the borrowers. And unless they're using the ECB to access liquidity, the ECB rate isn't relevant.
 
amok said:
Pepper have charged 5.8% for GE mortgages since they bought them
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Are you sure about this?

I understood that GE had different rates for every contract based on their assessment of the risk. I don't think that they have a "standard variable rate" of 5.8%.

Brendan
 
Brendan Burgess said:
Are you sure about this?

I understood that GE had different rates for every contract based on their assessment of the risk. I don't think that they have a "standard variable rate" of 5.8%.

Brendan
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I've been with them over 10 years with no issues never in negative equity and when I queried the rates this is what I was told! Whether sub prime or not we should not be discriminated when the CB lowers its rate. The lender is getting the added benefit!
 
amok said:
I've been with them over 10 years with no issues never in negative equity and when I queried the rates this is what I was told! Whether sub prime or not we should not be discriminated when the CB lowers its rate. The lender is getting the added benefit!
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Why don't you refinance your mortgage with another lender? You must have a very low LTV at this stage if you have been paying down your mortgage for 10 years and have never been in negative equity.
 
Sarenco said:
Why don't you refinance your mortgage with another lender? You must have a very low LTV at this stage if you have been paying down your mortgage for 10 years and have never been in negative equity.
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My husband is retiring this year so refinancing is not an option.
 
amok said:
My husband is retiring this year so refinancing is not an option.
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Will your husband getting a lump sum on retiring. If so and there was a portion of it that you could manage without it would be the best return that you would get and you would also be lowering you mortgage repayments.
 
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