Pepper Split Mortgage - €250k capital to reduce it?

They clearly set the capital repayment against the interest-bearing part of the mortgage.

It now means that most of your repayment, is clearing down the capital.

After your repayment on 19/9 , your balance was €297,009
They added net interest of €262 to bring it up to €297, 271
And then you lopped €1,766 off it to bring it down to €295,504

A reduction of €1,500 on the month.

Brendan

Thank you very much for explaining this to me as I couldn’t make it out at all. Interest rate is going to 4.25% in October so I will understand how to read my next statement and what it means.
Thanks again

Yes, but the 4.25% will be on only a small part of the mortgage.

I expect that they will get their act together eventually and charge you interest on the full amount. But don't do anything in the meantime to prompt such a review. Keep your head down.

Make sure you can meet the repayments. They are not really a "cost". Most of it is paying down the loan.

Brendan