Pepper mistake on my Credit Report - so I was refused a switch

J

james-jones

Registered User
Messages
20
Hello

We originally had our Mortgage with Permeant TSB which was sold to Pepper on May 2019 as we had a split mortgage.

On the last day of July 2021, Pepper moved the warehoused part back to Full Capital and interests payments. They also applied an alternative repayment arrangement for 2 years which ended on the last day of August 2023 and at the same time they doubled our interest rate.

Last week, i had a chat with an Avant Money Mortgage broker and applied online for a 4 year fixed rate switcher mortgage, but got refused the next day, they said that my Credit Report is showing that i still have a split Mortgage.

I have requested a copy of my Credit Report (https://www.myrequest.centralcreditregister.ie/) and while waiting for this to come in, i gave Pepper a ring and explained the situation. They rang me back and confirmed that they made a mistake and were sending information to the Central Credit Register that i was still on a split Montage even though we moved the warehoused part back to Full Capital almost 2 years 6 months ago.

They said they would fix the mistake on my Credit Report. I have asked Pepper to send me a letter outlining the mistake they made, they said it will not be this week but maybe next week.

Who do i report Pepper too?

What are my next steps?

Thanks
 
A complaint to ombudsman about misreporting Credit issues can get you 10k. Given you have been denied a mortgage your position is stronger
 
Your first priority is to switch your mortgage away from Pepper.

(Worry about the complaint and the Ombudsman stuff later.)

You should have a bank statement which shows clearly that you ended the split mortgage back in July 2021.

If you show this to Avant, it is likely that they will accept it.

However, you were on an ARA until August 2023 so I doubt that Avant would give someone a mortgage within a few months of ending an ARA.

Your best bet is to apply to Bank of Ireland which is the most flexible lender for people who have an impaired credit record but who have acted responsibly.

Brendan
 

Did you document that conversation at the time?

The date. The time.
The name of the person you were speaking to.

This will all be critical in building a file in the event of a complaint.

Brendan
 
You should send a Registered Letter to Pepper as follows

Urgent
I refer to my conversation with John Doe on 25th of January in which he acknowledged that you have reported my credit record incorrectly.

He said that he would send a letter to this effect over "the next week or two".

I have been refused a switcher mortgage due to my impaired credit record. "A week or two" is not an adequate record.

Please send this letter by return of post so that I can revive my mortgage application.

In the meantime, please reduce the interest on my mortgage to 3.8%, the rate which I could get on a switcher mortgage but which you have deprived me of by your mistake.

It will still take them two weeks, but you will be building up your file.
 
Thanks for the advice Brendan.

I phoned Pepper on Friday 26th at 12:23 with my query, they rang me back later that day at 16:32 informing me of their mistake. Unfortunately, i cannot remember the Woman's name that i was speaking with on both occasions.

I have also left a message with the Avant Money Mortgage broker who was helping me with the application, to ring me back, so that i can explain the situation and hopefully they will still consider my application, once Pepper fix my Credit Report.

Regarding making the complaint to Pepper, should i do it by registered letter or do it on-line via my Pepper mortgage on-line account as i see they have a complaint section.

Thanks
 
Dont' worry about the complaint for the moment. That just goes into a very large pile.

You want the letter this week.

The fact that you have the times is good - they will send you the recordings if there is a dispute.

Do you have to statements showing the end of the split mortgage?

Brendan
 
And don't rely on Avant.

I would be surprised if they gave you a mortgage even if your credit record was correct. You did have a split mortgage. And you had just come out of an ARA.

So get an application into BoI as well. Don't wait for Avant to make a final decision. If I am wrong, and they give you a mortgage, great.

Brendan
 
Hi James, the exact same thing happened to me. Same mortgage as you TSB to pepper. 2021 I changed to full repayment and got rid of warehouse. Last year after apply for a loan which was refused i questioned pepper. After 2 weeks of over and back the apologised and said it was an internally error. They assured me they would correct the error. Today i have applied for a loan which again was refused due to A split mortgage on my credit rating.
Pepper seem to want to hold us , so we can’t move away. Best way to keep your customers is not to amend their credit ratings !!!!
 
Now with two people with an identical problem, it sounds like a systemic error.

You should both report it to the Central Bank and they will investigate it.

Brendan
 
Brendan Burgess said:
Now with two people with an identical problem, it sounds like a systemic error.

You should both report it to the Central Bank and they will investigate it.

Brendan
Click to expand...
Not sure it’s a systematic error. maybe if it was once, but last year they assured me it would be resolved. Their credit team contact me and said it was a staff error .
But yet again this year it’s the same thing. The error is not resolved ! Even after many calls.
 
Out of Interest for the two people affected did Pepper unilaterally move you out of Warehouse back to full Capital And Interest or did they engage you.....Im working with an ex PTSB whereby they unilaterally broke the agreement between the Customer and PTSB
 
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