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Here you can find a list of our most frequently asked questions.

General FAQs

 

We will send you an account statement at least once a year. However, you can contact us to request a statement at any time.

Please see the Contact us page for our contact details.

If you are changing your address within Ireland, you can tell us by emailing comms@peppergroup.ie.

If you are changing your address outside of Ireland, we may require also the change of address documents listed below before we can make the change of address.

Please see the Contact us page for our contact details.

1. Proof of identity

A copy (a picture via camera phone or scanned copy as PDF) of one of the following:

  • Passport (Irish, EU or non-EU passport)
  • Driving licence (Irish, EU or non-EU driving licence)
  • National Identity Card (Irish, EU or non-EU national identity card)

Note: The document must be in date. It must show a clear photo, the expiry date and your signature. All other information must be fully legible. If the proof of identity document is in the form of a card, you must provide an image of both the front and back of the card.

 

2. Proof of address

A copy of a document as listed below showing your name and address dated within the last 6 months:

  • Utility bill (electricity, gas, landline phone, waste collection, etc.)
  • Bank statement (e.g. current statement of account from a credit or financial institution, or credit/debit card statements)
  • Tax notice from the Revenue Commissioners (or other official documentation issued by the Revenue Commissioners)
  • Social welfare document (or other official documentation issued by the Department of Social Protection)
  • Motor tax document
  • Home or motor insurance certificate or renewal notice

Note: You cannot use the same document for both your proof of identity and proof of address.

Please tell us if you find any incorrect personal data on any letters or documents we send you and we will change it as soon as possible.

You may be able to update your email and phone number on the Account Summary screen in the MyPepper portal. See if you can register on MyPepper.

Alternatively, please see the Contact us page for our contact details.

If you would like a copy of your personal data (information), you need to make your request in writing, signed by all parties (each person on the loan) who the access request relates to.

Each party must forward copies of their CDD documents as listed above.

If one party on a joint account is making the request, we need their photo ID, and we will provide them with their personal data only.

If all the parties on a joint account are making the request, they must all provide their IDs. The joint information will be issued in a pack to each person.

Please see the Contact us page for our contact details.

A breakdown of the interest charged will be included on your annual statement. If you have not received a statement, or if the statement does not cover the period from January to December in the previous year, please contact us to request a certificate of interest.

Please see the Contact us page for our contact details.

Yes. If you change your home insurance, you must send us a copy of the revised policy. Please ensure the policy notes the interest of Pepper Finance Corporation (Ireland) DAC.

Please see the Contact us page for our contact details.

If you make a claim on your insurance policy, any compensation may be paid by cheque addressed to both you (the borrower) and Pepper, as we are a notified party on the policy.

 

You should send the claim cheque to Pepper Advantage, along with any relevant supporting documents such as:

  • Proof that work has begun (where applicable)
  • Proof of costs incurred in repairing any loss or damage to the property and its contents
  • Before and after photos of damage and repairs to the property (where applicable)
  • Report carried out by the insurer and/or the loss assessor
  • Engineer’s report, if there was structural damage to the property

Please see the Contact us page for our contact details.

We sent you this letter because we received a cancellation notice from your insurer. It is important that you send us a copy of the new home insurance schedule, with the interest of Pepper Finance Corporation (Ireland) DAC noted.

Please see the Contact us page for our contact details.

Yes. If you change your life assurance policy, you should contact us and we will let you know the next steps.

Please see the Contact us page for our contact details.

We understand that this is a very difficult time for you and that there is a lot to do when a loved one or close relative passes away. If the person who died was a spouse, partner or close relative that had a loan or mortgage account with us, you can tell us by phone or in writing and we will let you know the next steps.

Please see the Contact us page for our contact details.

When you contact us, we will need the following details of the deceased person, to help us to locate their account:

  • Name, address and date of birth

We will also need your details:

  • Your name, address, date of birth and relationship to the deceased

After your first contact, you will need to provide the following additional information:

  • A copy of the death certificate
  • The name of the executor of the Estate (if there is a will in place)


Useful contact information on dealing with a bereavement:

Death certificate

You can find out more information and order a death certificate from the HSE website.

 

Citizens Information

The Citizens Information website has practical information on what to do when someone dies. Or you can phone the Citizens Information Phone Service (CIPS) on 0818 07 200.

Probate Office

The Probate Office issues Grants of Representation.

Probate Office
1st Floor Phoenix House
15-24 Phoenix Street North

Smithfield
Dublin 7
Phone: 01 888 6728

 

MABS – Money Advice and Budgeting Service

MABS is a free, independent, confidential service that can provide online help and information on financial difficulties after a bereavement.

Payment FAQs

A direct debit is a secure automatic payment you can set up. It authorises us to collect your monthly repayment from your bank account. The benefits are that the payment amounts are flexible and guaranteed. ’Flexible’ means the direct debit will automatically update in line with any changes we may make to your repayment amount.

Under the SEPA Direct Debit Guarantee, you are entitled to a refund from your bank for any payment taken in error.

To set up or change a direct debit, you can either:

  • Download the direct debit form that applies to you and return the completed form to the address provided on it.
  • Alternatively, you may be able to log in to the MyPepper portal to download a direct debit form and send it back to us See if you can register for MyPepper, if you aren’t already registered or
  • We can take your details over the phone and set up the direct debit immediately or we can send you a form to complete and return to us.

Please see the Contact us page for our contact details.

Note: You will need your BIC and IBAN numbers to fill out the form. You can find these on your current account bank statement or in your online banking.

To cancel a direct debit payment, you must contact us at least 10 days before your next payment is due to be paid. Otherwise, the change cannot be made until the following month. To cancel a direct debit payment, you must also inform your bank.

Please see the Contact us page for our contact details.

No. If your direct debit is not set up as a fixed direct debit, the repayment amount will automatically change to the new amount. You do not need to do anything.

If interest rates change, your existing overpayment will not change. However, your current monthly repayment will be adjusted in line with any rate change, either up or down. You should contact us if you want to change the overpayment amount.

Please see the Contact us page for our contact details.

Yes. You can change the date you pay your mortgage by contacting us to request a change.

Please see the Contact us page for our contact details.

Yes. You can make an overpayment on your mortgage in two ways.

  • You can make a lump sum payment and use it to either reduce your monthly scheduled repayment amount, or reduce your mortgage term.

  • You can increase your regular monthly repayments. This may reduce your mortgage term and allow you to repay your mortgage earlier than originally planned.

If you are making an overpayment or increasing your payments, please confirm to us in writing, how you would like the payment to be allocated.

Please see the Contact us page for our contact details.

Yes. You can reduce the term of your mortgage by making one or more lump sum payments or increased monthly repayments off your mortgage balance and sending your request in writing. The request must be signed by all parties to the loan.

Please see the Contact us page for our contact details.

Yes. If you have a mortgage or loan account with us, you can make a payment by a debit card in your name.

  • You may be able to make a payment online on the MyPepper. If you are not yet registered on MyPepper, it is easy to register online.
  • Alternatively, call us on 0818 818 181 and we will take the payment over the phone.
No. Payments cannot be made by credit card.

Yes. You can make payments by EFT from your bank account. To pay by EFT, you will need:

  • Your bank account IBAN and BIC numbers and your mortgage account number.  

  • Pepper’s IBAN and BIC numbers. You may be able to get them from MyPepper or you can call us.

Please see the Contact us page for our contact details.

Please note: If you hold more than one account with Pepper Advantage, you will need to set up a payee for each account, using the unique IBAN and BIC number for that account.

EFT payments can take up to 3 working days for the repayment to reach your mortgage account.

Yes. To make a repayment by cheque, bank draft or postal order, you need to:'

  • Make it payable to Pepper Finance Corporation (Ireland) DAC.

  • Write your full name and mortgage account number on the back.

  • Post it to us at Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.

Please see the Contact us page for our contact details.

Please allow 10 working days for your payment to clear.

You will need to make the necessary arrangements with your bank to amend your payment amount if your repayment changes.
You will need to amend the payment to the new amount.

If the term of your loan has ended, the full balance is due, you should contact us to make the necessary arrangements to repay the outstanding balance.

Please see the Contact us page for our contact details.

For more information, see Paying off your mortgage. If you are experiencing difficulties with your mortgage repayments, find out about your options: Financial Difficulties.

General Interest Rate FAQs

No. If you pay your mortgage or loan by direct debit, generally the new repayment amount will be taken automatically.

You will need to make the necessary arrangements with your bank to change your repayment amount.

You will need to amend the payment to the new amount.

Don’t worry. We have a highly experienced team who will work with you to find a solution. Whatever the reason you’re having difficulty, please contact us now. The sooner we hear from you, the sooner we can try to help.

Please see the Contact us page for our contact details.

The ECB rate change will not affect the terms of your agreed ARA. However, the interest rate may increase or decrease in line with the ECB base rate.

If you are making reduced payments as part of the ARA, your loan repayments will remain the same until the end of the reduced payment period. We will inform you at least 30 days before your ARA ends about your new repayment amount and interest rate.

However, if you are not making reduced payments as part of your ARA, your loan repayment will change following the ECB interest rate change.

If you currently have a PIA, your repayment may stay as agreed. However, if the interest rate has not been fixed as part of the PIA and you have a tracker mortgage, the interest rate change will be applied to your account. If you are making reduced payments as part of the PIA, your loan repayments will remain the same. When your PIA comes to an end, your repayment amount and interest rate (where applicable) will be adjusted accordingly.

We will contact you before the PIA comes to an end to let you know what your new repayment amount and interest rate.

Yes, the interest rate changes are in line with the terms and conditions of your mortgage.

Pepper will always honour a customer’s existing loan terms and conditions without exception, as required by law and regulations.

A split mortgage restructures your mortgage by setting aside a portion of your loan for repayment at a later date. In most cases, no interest is charged on this portion. However, interest continues to be charged on the main part of the loan (the main balance). You continue to make monthly repayments of capital and interest on the main balance.

If the interest rate on the main balance of your split mortgage tracks the ECB base rate or is a variable rate, we will notify you before it changes. Your notification letter will tell you the reason for the change and its effect on your repayments.

No, Pepper does not receive any direct economic benefit from the increase in interest rates.

Yes, Price Promise is a variable rate mortgage, with a margin which will never be more than between 1.4% and 1.5% over the ECB base rate. This means your interest rate will change when the ECB rate changes. We will write to you 30 days before any change to tell you the reason for the change and the effect of the change on your repayments.

No. We are not involved in new residential mortgage lending in Ireland, so we do not offer any fixed rate mortgages. We encourage residential mortgage customers to consider their options on a regular basis, as there may be a better mortgage available from another lender. The Competition and Consumer Protection Commission’s website has information on switching lenders.

We will write to inform you of the new monthly repayment amount and the date the new amount will take effect.

Your existing overpayment will remain the same, unless you tell us you want to change it. However, your current monthly repayment will be adjusted in line with any rate change. You should contact us if you want to change the overpayment amount.

Please see the Contact us page for our contact details.

A tracker mortgage is where the interest rate on the loan changes in line with another publicly available rate, such as the base rate set by the ECB. If the ECB base rate increases or decreases, the interest rate on a tracker mortgage will go up or down by the same percentage.

For more information on ECB base rates, please see: www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

The ECB aims to keep prices and inflation stable across the Eurozone, including Ireland.

ECB interest rate changes affect mortgage holders who have loans linked to the ECB base rate by changing the amount they have to pay back each month.

We will write to tell you about interest rate changes. We will explain how it will affect your mortgage interest rate and your monthly loan repayments, and when it will take effect. We will also let you know once the change has taken place.

The table below shows how an ECB base rate movement of 0.25% affects loans (per €50,000 borrowed).

The payment may increase or decrease by the amount below, depending on whether the interest rate goes up or down.

Outstanding balance

Monthly instalment change*

€50,000

€10.42

€150,000

€31.25

€250,000

€52.08

€300,000

€62.50

€350,000

€72.92

Note: These figures are examples only. We will write to you about how and when the actual changes will affect your monthly repayments.

Variable Interest Rate Increase FAQs

Variable interest rates can go up or down, depending on factors decided by your lender. The rates are not always linked to the European Central Bank’s (ECB) base rate. However, lenders often change variable interest rates when the ECB rate goes up or down. This means you may see your rate increase or decrease in the months following ECB base rate movements.

No, our mortgages are on a range of different interest rates. We manage mortgages acquired from various other lenders. These lenders set the original interest rates on the mortgages, and they vary by type and by lender.

We hold the legal title to your loan and are responsible for managing it.

We make decisions about changes to variable interest rates on behalf of the beneficial owner, (who ultimately ‘owns’ the loan)

When reviewing variable interest rates, we assess six key factors, which are set out in our Variable Interest Rate Policy Statement. Changes in one or more of these factors may result in an increase or decrease to variable interest rates.

We will write to you in advance about changes to your interest rate. We’ll explain the reason for the change and how it will affect your payments.

If you are worried about repaying your mortgage, we can offer a range of solutions, depending on your individual circumstances and what you can afford. These may include extending the term of your mortgage, offering a discount on your interest rate or fixing your monthly payment for a limited period.

Please see the Contact us page for our contact details.

Fixed Rate Mortgage FAQs

No, we do not offer any new mortgages. We are here to manage existing loans on behalf of lenders and to help mortgage holders resolve their financial difficulties.

We encourage you to regularly review your mortgage options and consider switching to another lender if they can offer you a more suitable mortgage. For more information on switching lenders, visit the Competition and Consumer Protection Commission’s website.

If you are having financial difficulties and are unable to switch lender, there are a range of solutions we can explore, which may be a sustainable option for you.

These include:

  • Interest-only payments
  • Term extensions
  • Arrears capitalisation
  • Interest rate discounts

Please see the Contact us page for our contact details.

ECB rate changes will not affect your loan while you are on a fixed rate. When your fixed rate period ends, your interest rate will move onto the ECB rate in use at that time. We will let you know in advance what your new rate will be and how the change will affect your loan and your monthly repayment.

The rate changes will not affect your loan while you are on a fixed rate. When your fixed rate period ends, your interest rate will move onto the prevailing variable interest rate at that time. We will let you know in advance what your new interest rate will be and how the change will affect your loan and your monthly repayment.

Yes, when you change your life assurance details, you should contact us so that we can forward you a deed of assignment to be completed and returned with the original replacement policy to Pepper.

As Pepper are a notified party to any insurance policy in the unfortunate event that a claim is made on the policy, any claim funds paid will be addressed to both the borrower and Pepper.


The claim cheque should be sent to Pepper Advantage along with the below supporting documentation:

  • Proof of commencement of works (where applicable).
  • Proof of costs incurred in the repair of any loss or damage to the property and its content.
  • Before and after photos of the property at time of the accident (where applicable).
  • Report carried out by the insurer and/or loss assessor. 
  • Engineers report if there was structural damage to the property.

 For more information or to speak to someone regarding a home insurance claim please contact us on 0818 818 181.

The letter is prompted when Pepper receives cancellation notice from your previous insurer.


We require a copy of the new Home Insurance schedule with interest of Pepper noted.


Post to: Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare

The purpose of the PIA is to help people in serious arrears to find the best available solutions, with the help of professionals who have expert knowledge of mortgages, insolvency, bankruptcy and/or repossession.
The PIA has been set up to help borrowers who are :

  • Insolvent (cannot pay their bills in full as they are due).

  • In mortgage arrears on their principal private residence; and at risk of losing their home.

  • In a home that is not disproportionately large for their needs.

You are only eligible to seek a PIA if : You have co-operated under a mortgage arrears process for a period of 6 months with your secured creditor in respect of  your principal private residence and the  result was that no alternative repayment arrangement was agreed or the secured  creditor confirmed it would not put in  place such an arrangement. In total, just over 800 PIAs were completed and agreed in Ireland in 2022.


If you think you or someone you know may be eligible for the Scheme you can:

  • Contact a PIP directly, PIPs are qualified professionals, regulated by the Insolvency Services Ireland.  They will carry out an eligibility assessment, or
  • Contact a MABS office or the MABS helpline (0818 07 2000). They will carry out a short eligibility assessment and refer the person to the appropriate service.

Find out more at www.backontrack.ie 

If your loan is expired i.e., the full balance is due at this time and you continue to make payments by Direct Debit, you should contact Pepper to make the necessary arrangements to amend your Direct Debit amount to include the increased interest charged as a result of the interest rate increases.

Bereavement Support - You can notify us of a bereavement by telephone 0818 818 181, our lines are open between 9am to 5pm Monday to Friday excluding bank holidays and public holidays where our dedicated team are available to guide you during this difficult time, alternatively you can write to us at Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.

Before you get in contact you will need the following details of the deceased person, this is required to locate their account.  

  • Name, address, date of birth & date of death.

We will also require your details: 

  • Name, address, date of birth & relationship to the deceased.  


Following on from your initial contact you will be required to provide the following additional information:

  • A copy of the death cert.       
  • Any life assurance policy that the deceased had in place.  You should contact the insurance provider, as monies paid out under a life assurance policy may repay some of, or all of the outstanding mortgage account balance.
  • The name of the executor of the estate (if there was a will in place)


You can notify us of a bereavement by telephone 0818 818 181, our lines are open between 9am to 5pm Monday to Friday excluding bank holidays and public holidays where our dedicated team are available to guide you during this difficult time, alternatively you can write to us at Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.


Additional useful information that you may find beneficial in guiding you through this difficult time can be located below:


DEATH CERTIFICATES

The official site for ordering a death certificate is https://www2.hse.ie/services/births-deaths-and-marriages/order/death-certificate/ 


CITIZENS INFORMATION

The Citizens Information Board is where you can get information and advice on public and social services.
www.citizensinformation.ie

Tel: 0818 07 200

THE PROBATE OFFICE

The Probate Office issues Grants of Representation (You will find a list at www.courts.ie).
You can contact The Probate Office at

Probate Office,
1st Floor Phoenix House,
15-24 Phoenix Street North, Smithfield,
Dublin 7
Tel: +353 1 888 6728

MABS MONEY ADVICE AND BUDGETING SERVICE

The Money Advice and Budgeting Service (MABS) is a free, independent, confidential, and non- judgmental money advice and budgeting service for all members of the public. When a loved one passes away, this brings not only emotional trauma, but can also lead to financial challenges.
https://mabs.ie/managing-money/unexpected-life-events/bereavement-and-debt/ 

Pepper has not passed on more than the ECB Base rate increases announced between July 2022 and September 2023 and has passed on Variable Interest Rate changes in line with our Variable Interest Rate Policy

Yes, when you change your life assurance details, you should contact us so that we can forward you a deed of assignment to be completed and returned with the original replacement policy to Pepper.

As Pepper are a notified party to any insurance policy in the unfortunate event that a claim is made on the policy, any claim funds paid will be addressed to both the borrower and Pepper.


The claim cheque should be sent to Pepper Advantage along with the below supporting documentation:

  • Proof of commencement of works (where applicable).
  • Proof of costs incurred in the repair of any loss or damage to the property and its content.
  • Before and after photos of the property at time of the accident (where applicable).
  • Report carried out by the insurer and/or loss assessor. 
  • Engineers report if there was structural damage to the property.

 For more information or to speak to someone regarding a home insurance claim please contact us on 0818 818 181.

The letter is prompted when Pepper receives cancellation notice from your previous insurer.


We require a copy of the new Home Insurance schedule with interest of Pepper noted.


Post to: Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare

The purpose of the PIA is to help people in serious arrears to find the best available solutions, with the help of professionals who have expert knowledge of mortgages, insolvency, bankruptcy and/or repossession.
The PIA has been set up to help borrowers who are :

  • Insolvent (cannot pay their bills in full as they are due).

  • In mortgage arrears on their principal private residence; and at risk of losing their home.

  • In a home that is not disproportionately large for their needs.

You are only eligible to seek a PIA if : You have co-operated under a mortgage arrears process for a period of 6 months with your secured creditor in respect of  your principal private residence and the  result was that no alternative repayment arrangement was agreed or the secured  creditor confirmed it would not put in  place such an arrangement. In total, just over 800 PIAs were completed and agreed in Ireland in 2022.


If you think you or someone you know may be eligible for the Scheme you can:

  • Contact a PIP directly, PIPs are qualified professionals, regulated by the Insolvency Services Ireland.  They will carry out an eligibility assessment, or
  • Contact a MABS office or the MABS helpline (0818 07 2000). They will carry out a short eligibility assessment and refer the person to the appropriate service.

Find out more at www.backontrack.ie 

If your loan is expired i.e., the full balance is due at this time and you continue to make payments by Direct Debit, you should contact Pepper to make the necessary arrangements to amend your Direct Debit amount to include the increased interest charged as a result of the interest rate increases.

Bereavement Support - You can notify us of a bereavement by telephone 0818 818 181, our lines are open between 9am to 5pm Monday to Friday excluding bank holidays and public holidays where our dedicated team are available to guide you during this difficult time, alternatively you can write to us at Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.

Before you get in contact you will need the following details of the deceased person, this is required to locate their account.  

  • Name, address, date of birth & date of death.

We will also require your details: 

  • Name, address, date of birth & relationship to the deceased.  


Following on from your initial contact you will be required to provide the following additional information:

  • A copy of the death cert.       
  • Any life assurance policy that the deceased had in place.  You should contact the insurance provider, as monies paid out under a life assurance policy may repay some of, or all of the outstanding mortgage account balance.
  • The name of the executor of the estate (if there was a will in place)


You can notify us of a bereavement by telephone 0818 818 181, our lines are open between 9am to 5pm Monday to Friday excluding bank holidays and public holidays where our dedicated team are available to guide you during this difficult time, alternatively you can write to us at Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.


Additional useful information that you may find beneficial in guiding you through this difficult time can be located below:


DEATH CERTIFICATES

The official site for ordering a death certificate is https://www2.hse.ie/services/births-deaths-and-marriages/order/death-certificate/ 


CITIZENS INFORMATION

The Citizens Information Board is where you can get information and advice on public and social services.
www.citizensinformation.ie

Tel: 0818 07 200

THE PROBATE OFFICE

The Probate Office issues Grants of Representation (You will find a list at www.courts.ie).
You can contact The Probate Office at

Probate Office,
1st Floor Phoenix House,
15-24 Phoenix Street North, Smithfield,
Dublin 7
Tel: +353 1 888 6728

MABS MONEY ADVICE AND BUDGETING SERVICE

The Money Advice and Budgeting Service (MABS) is a free, independent, confidential, and non- judgmental money advice and budgeting service for all members of the public. When a loved one passes away, this brings not only emotional trauma, but can also lead to financial challenges.
https://mabs.ie/managing-money/unexpected-life-events/bereavement-and-debt/ 

Pepper has not passed on more than the ECB Base rate increases announced between July 2022 and September 2023 and has passed on Variable Interest Rate changes in line with our Variable Interest Rate Policy

FAQs for customers in financial difficulties – Primary residence

What should I do if I’m finding it difficult to make my monthly mortgage repayments?

Whatever the reason for any financial difficulties, we are here to help. Please get in touch as soon as possible.

Once we understand your situation, we can suggest the best approach to help you move forward so that you can take control of your finances.

How to get started:

  • Call us: Our team is available from Monday to Friday, 9am to 5pm (excluding bank holidays). Please see our Contact Us page for full details.
  • Learn about the process: If this is your primary residence, you can visit our Primary Residence page. This section explains the specific steps we take to support customers in financial difficulty and the protections available to you.

Do you have Payment Protection Insurance (PPI)?

If you have PPI to protect the repayments on your mortgage, you may want to contact the insurance company to make a claim. Your insurance provider can tell you how to make a claim.

What is a Primary residence?

This is the residential property you live in as your home, or the only residential property in Ireland that you own (even if you do not live in it).

What is the MARP?

The MARP is the Mortgage Arrears Resolution Process. It describes the steps we follow for people who have fallen behind with their mortgage repayments or are concerned they might miss a repayment. It follows the requirements in the Consumer Protection Code 2025 and applies to your primary residence.

What does it mean to be ‘not co-operating’?

It is important that you co-operate with us to find a solution to managing your arrears. If you are classified as 'not co-operating', you will no longer be protected by the MARP. This means we may have to progress with legal proceedings, which is explained in our MARP booklet (PDF).

Before you are classified as not co-operating, we will send you a letter outlining the specific actions you need to take to avoid this status. If you do not complete these actions within the timeframe provided, you will be classified as not co-operating.

In the letter, we will also set out alternative options, which may be available to provide a solution to your mortgage difficulties.

You have the right to appeal the decision to classify you as not co-operating. You must make your appeal in writing, setting out your reasons for appealing, within 20 working days from the date that you received the letter.

Please feel free to contact us on 0818 818 181 if you would like to discuss the matter.

What is a Standard Financial Statement (SFS)?

The SFS is a financial statement we use to obtain a clear picture of your current finances. It includes details of your income, expenses, spending, and personal circumstances. We use this information to assess your situation and find the best repayment option for you.

What is an Income & Expenditure (I&E) form?

The I&E form is a financial statement that is used for buy-to-let properties or if you have received a letter confirming your mortgage is s outside of the MARP. Like the SFS, it provides a full picture of your situation so we can help you find a solution to your mortgage difficulties.

What is the difference between the SFS and the I&E form?

The information needed to complete both forms is the same. The only difference is that the SFS is for customers in the MARP, while the I&E form is for those outside the MARP or with buy-to-let properties.

Completing one of these forms is useful as it gives you a clear picture of your finances and may help you to think of ways to reduce your expenses and spending.

What do I need to complete my financial statement?

You should gather relevant information, such as:

  • Recent payslips and bank account statements
  • Business accounts (if you are self-employed)
  • Bills and receipts for basic living expenses
  • A copy of your credit report from the Central Credit Register

See if you can register on MyPepper to view your balance, transactions, or complete your SFS online.

Need help filling in your form?

Whether you are completing an SFS or an I&E form, you can use the Guide to Completing a Standard Financial Statement from the Central Bank’s Consumer Hub. This guide provides step-by-step instructions to help you provide the most accurate information.

You can also find additional information on our Financial statement supports page.

What is an alternative repayment arrangement (ARA)?

An ARA is an agreement to change your mortgage repayments to a level that is sustainable for you. Options include:

  • Reduced monthly repayments: Your monthly repayment is reduced to a level you can afford for an agreed period. This is generally between 12 months and 36 months. After the reduced repayment period, we increase your repayments so that you can still pay off your mortgage within the original term.
  • Deferral of repayments: You can take a break from making any payment on your mortgage for an agreed period – usually up to 3 months.
  • Term extension: The term is extended so you pay off the mortgage over a longer period, with lower monthly repayments. You may also use a term extension to clear arrears, as it gives you extra time to catch up with missed repayments. We will only consider extending the term if you will be under 71 years old when the mortgage term is due to finish.
  • Interest-only: You pay only the interest on your mortgage for an agreed time.
    • You make lower monthly repayments as you are not paying off any of the capital you have borrowed – only the interest on it.
    • After the interest-only period, we either (a) increase your repayments so that you still pay off your mortgage within the original term, or (b) extend the term of your mortgage.
  • Capitalising arrears: The outstanding arrears (the amount of your monthly repayment that is still unpaid) are added to the remaining capital balance. (The capital is the amount of money you originally borrowed. The remaining balance is the amount you have not yet paid off). This means the mortgage is no longer shown as being in arrears. As a result, this generally means either the monthly repayment amount is increased, or the mortgage term is extended.
  • Fixed interest rate: This is where we fix the interest rate on your mortgage at an agreed lower rate for a period of two years. During this time, the interest rate and your monthly repayment will not go up or down. At the end of the fixed-rate period, your mortgage will go back onto the prevailing variable or tracker rate that applies at that time, in line with the terms and conditions of the loan.
  • Permanent interest rate discount: For the remaining term of your mortgage, we will give you an agreed discount on the interest rate applied to your mortgage. If you have a variable rate mortgage, your repayments will go up or down when the interest rates changes. However, the level of discount on the interest rate will not change.

    For example, if we offer you a discounted rate of 2% on an existing variable rate of 5%, your interest rate is lowered to 3%. This discounted rate can be changed in line with the terms and conditions of your mortgage and the factors outlined in our Variable Interest Rate Policy. Your monthly repayments will go up or down in line with any changes to your interest rate, but the 2% discount will continue to apply.
  • A combination of options: We may combine any of the above options. For example, we may combine a reduced payment period with a term extension. This is because lower monthly repayments mean you will not pay off your mortgage as quickly as first planned, so we extend the term to allow you more time to pay it off in full.
  • Split mortgage:
    • Your mortgage balance is split into two parts (the main balance and the split balance), depending on how much of the mortgage you can afford to keep paying.
    • You continue to make monthly repayments of capital and interest on the main balance.
    • The split balance is ‘parked’. This means you do not make any payments on the split balance until your financial circumstances improve.
    • As your circumstances improve, we transfer some of the split balance to the main balance. We’ll always talk to you about what repayments you can afford.
    • At the end of the mortgage term, you must repay the remaining split balance in full.

Please note that we will only consider you for a split mortgage if:

    • You are committed to your home, and
    • You are in full-time employment, and
    • You can show you will be able to pay off the split balance in full at the end of the term

What happens if an ARA cannot be reached?

If a sustainable alternative arrangement cannot be reached based on your financial assessment, or if you reject an offer from us, we may explore other options:

  • Mortgage to Rent (MTR): If you are not able to keep paying your mortgage, but you want to stay in your home, the MTR scheme might be suitable. This is a Government scheme for people who have serious difficulties with their mortgage and who are unlikely to ever make full repayments in the future. Under MTR, you sell your house to a housing association and then rent it from them, at an affordable rent. Find out more about how the scheme works and if you qualify at www.mortgagetorent.ie.
  • Selling your property: Sometimes, the only way to move forward is to sell your property. If this is what you decide to do, let us know. We can give you the time you need to sell your house and help you with the process, if you need it.
  • Trading down: Trading down is where you sell your current home and buy a cheaper one.  Before considering this, you need to be sure that you will have sufficient funds from the sale to buy another home (or be able to get another mortgage), after paying off the mortgage on your current property.
  • Voluntary surrender: Voluntary surrender is where you agree to voluntarily hand over ownership of your property to Pepper. You give us full possession of the property and ask us to market and sell the property. We will decide on the final selling price.
  • Assisted voluntary sale: If you decide to sell your home, we can provide you with support and assistance. For example, we can help you sell your property at the best price while keeping the cost to you as low as possible.

Where can I get independent help?

Can I meet with someone in person?

Yes. We can arrange for a member of our team to arrange an in-person meeting at:

  • Our Shannon office
  • Online, or
  • Your home or another suitable location.

Visit our Personal visits (Primary residence) page for more information and to register your request.

FAQs for customers in financial difficulties – Buy-to-let (BTL) mortgages

What should I do if I am finding it difficult to make my monthly repayments on my buy-to-let (BTL) mortgage?

We are here to help. If you are having difficulties making your monthly mortgage repayment on your BTL mortgage, please talk to us.

There are options available, and we are committed to working with you to find a solution.

We can try to agree an approach that will help you to deal with the repayments you owe. To do this, we may will ask you to complete an Income and Expenditure (I&E) form to help us understand your finances. We may also ask you for supporting documents that we consider relevant, such as bank statements and proof of income.

Please see the Contact us page for our contact details.

Can I meet with someone to discuss my buy-to-let mortgage?

Yes. You can contact us and we will arrange a meeting with you in either our Dublin or Shannon offices. In-person meetings will take place in a Pepper Advantage office as this provides a secure and private environment for everyone.

You can also choose to have the meeting over a video call.

You have the option of having another person (a nominated third party) present at the meeting. Please contact us in advance of the meeting if you would like another person to be present.

Please see the Contact us page for our contact details.

What happens if Pepper appoints a receiver over the buy-to-let property?

We may appoint a receiver who will manage and sell the mortgage property. The receiver will notify you of their appointment and will deal directly with your tenants.

Where we appoint a receiver over your property, we are allowed to recover from you all the expenses that this involves. These could amount to €10,000 or more.

Where your property is sold but the funds raised are not enough to clear the full balance (including any arrears) on your mortgage, you will have to pay the shortfall on the remaining debt. This will include unpaid arrears and any interest that has built up. You will also be liable for any charges; and legal, selling and other related costs.

What is an Income and Expenditure (I&E) form?

The I&E form is a financial statement for customers who are in arrears or concerned about going into arrears regarding mortgages on BTL properties. It ensures we have a detailed understanding of your finances so that we can find suitable alternative repayment options.

Completing one of these forms is useful as it gives you a clear picture of your finances and may help you to think of ways to reduce your expenses and spending.

What is the difference between the Standard Financial Statement (SFS) and the I&E form?

The information needed to complete the SFS and I&E form is the same. The only difference is that the I&E form is mainly for people with buy-to-let (BTL) mortgages and the SFS is for customers who are in the Mortgage Arrears Resolution Process (MARP) on their primary residence.

However, if your BTL property is the only property you own in the State, you may complete a Standard Financial Statement (SFS) and your mortgage will go into the MARP.

Completing one of these forms is useful as it gives you a clear picture of your finances and may help you to think of ways to reduce your expenses and spending.

What do I need to complete my financial statement?

For the SFS or I&E form, you should gather relevant information, such as:

  • Recent payslips and bank account statements
  • Business accounts (if you are self-employed)
  • Bills and receipts for basic living expenses
  • A copy of your credit report from the Central Credit Register

See if you can register on MyPepper to view your balance, transactions, or complete your SFS online.

Need help filling in your financial statement?

Whether you are completing an SFS or an I&E form, you can use the Guide to Completing a Standard Financial Statement from the Central Bank’s Consumer Hub. This guide provides step-by-step instructions to help you provide the most accurate information.

You can also find additional information on our Financial statement supports page.

Where can I get independent help?

Can I meet with someone in person?

Yes. We can arrange for a member of our team to arrange an in-person meeting at:

  • Our Shannon office
  • Online, or
  • Your home or another suitable location.

Visit our Personal visits page for more information and to register your request.

FAQs for customers in financial difficulties – Commercial loans

What should I do if I am struggling to make my monthly commercial loan repayments?

Please call our Commercial Team as soon as possible. We have options that could help, and we are committed to working with you to find a solution. Our team is available from Monday to Friday, 9am to 5pm (excluding bank holidays and public holidays).

Please see the Contact us page for our contact details.

Can I meet with someone to discuss my loan?

If you would like to have a discussion, please call us and we will arrange a meeting in our either our Dublin or Shannon office. We prefer to meet in our office as this provides a secure and private environment for everyone. Alternatively, we can set up a video call. You may find it useful to bring a trusted adviser or accountant (a third party) with you. Contact us in advance if you wish to have a third party attend the meeting with you.

Please see the Contact us page for our contact details

What happens if I do not agree with your solution?

Where a repayment arrangement cannot be agreed, you must still meet the scheduled repayments on your commercial loan. If you fail to make repayments and your loan goes into arrears, we may appoint a receiver, initiate legal proceedings or repossess the secured property.

What happens if I do not agree with your solution?

Where a repayment arrangement cannot be agreed, you must still meet the scheduled repayments on your commercial loan. If you fail to make repayments and your loan goes into arrears, we may appoint a receiver, initiate legal proceedings or repossess the secured property.

When can I appeal your decision and how do I do it?

You have the option to appeal to our dedicated Commercial Appeals Board if you are not satisfied with:

  • The withdrawal or reduction of your commercial loan
  • A special term or condition you are required to meet so we can provide you with an alternative arrangement
  • Our refusal to offer you an alternative arrangement
  • Having been classified as not co-operating

Appeals must be submitted in writing to the Appeals Board within 20 working days from the date you are notified of a decision.

Send the appeal to:

Commercial Appeals Board

Pepper Advantage

PO Box 690 Shannon

Co Clare

FAQs on paying off your mortgage

Can I switch my mortgage to another lender?

Yes. We actively work with customers wishing to switch their mortgage to another lender. We recommend you look at your mortgage options regularly because a different mortgage from another lender may lead to savings for you.

The Competition and Consumer Protection Commission’s website provides information on switching lenders and changing mortgage type.

https://www.ccpc.ie/consumers/money/mortgages/switching-lenders-or-mortgage/

If I cannot switch lenders, do I have any other options?

If you cannot switch lenders because, for example, your mortgage was previously restructured or because of your credit record, we will work with you to find a solution tailored to your needs. We are here to support you.

Please see the Contact us page for our contact details.

Do I need Pepper’s consent to sell my mortgage property?

There are a number of factors to consider if you wish to sell your property.

Generally, you may sell the property and do not need our consent if:

  • You have only one property and only one mortgage agreement with Pepper Advantage, and
  • The sale proceeds will be enough to pay off all the remaining debt on your mortgage

However, you will need our consent if:

  • You have more than one property, or
  • You have more than one mortgage attached to one property

For us to make a formal decision regarding the sale of a property, we need the following information:

  • Sale price
  • Breakdown of sale-related fees, such as estate agent fees and legal fees
  • Status of sale (such as whether the property is currently for sale, you have received any offers, and the marketing history)

How do I begin the redemption process?

You can find all the 5 steps to redeeming or switching on our Redemptions and switching page.

It is recommended that you consult with your solicitor in relation to the mortgage redemption process as they will know the steps to be taken.

What is a redemption statement?

Redemption statement confirms the final amount you must pay to close your mortgage account. The redemption statement sets out your:

  • Outstanding balance
  • Interest owed
  • Early repayment charges
  • Exit fees
  • Daily interest amount
  • Total redemption figure

How do I request a redemption statement?

Send us a request.

Please see the Contact us page for our contact details.

Do I need a solicitor if I want to pay off my mortgage early?

It is always advisable to engage the services of a solicitor or a legal professional when going through the redemption process.

How do I access my title deeds?

If your solicitor needs to see the title deeds before settling your mortgage, they can request them from us – on Accountable Trust Receipt (ATR). This is a document your solicitor signs acknowledging that they will use the title deeds only for the purposes of preparing your redemption (paying off your mortgage) or a contract of sale.

The maximum fee for an ATR is €38, unless the terms and conditions of your original mortgage specify a lower amount or state that no fee applies. The exact fees will be shown in the redemption statement issued by Pepper to you or your solicitor.

Your title deeds will be released to either you or your solicitor once your mortgage has been paid in full and the redemption process has been completed. For more information, see Redemptions and switching.

What should I do if my solicitor needs to see my property's title deeds?

If you are selling your property or paying off your mortgage in full, your solicitor will need to review your original title deeds.

To do this, your solicitor must request the title deeds on Accountable Trust Receipt (ATR).

What is an ATR?

ATR stands for Accountable Trust Receipt. If your solicitor needs to see the title deeds for specific reasons, they can request the title deeds are released on ATR. This is a document your solicitor signs acknowledging that the title deeds are to be used only for the purposes of preparing your mortgage redemption (paying off your mortgage in full) or a contract for sale.

As the title deeds are the security for your mortgage, your solicitor is only allowed to hold them for a specific time for this purpose and Pepper Advantage reserves the right to recall the title deeds at any time.

How can I get the title deeds sent out on ATR?

We can issue the title deeds on ATR if we receive the request from your solicitor. We also need the written authority from all borrowers on the account. You may also need to provide an up-to-date proof of ID.

We will charge an ATR fee of €38, unless the terms and conditions of your original mortgage specify a lower amount or state that no fee applies.

Please contact us to confirm the fee.

Is there a fee to take the title deeds on ATR?

There may be a fee of no more than €38 for this service. Contact us to confirm the fee as it may vary depending on the terms and conditions of your original mortgage offer.

Please see the Contact us page for our contact details.

What is the turnaround time for sending the title deeds out?

We are required to provide the title deeds to the solicitor on ATR within 10 working days of receiving a valid request and fee (if applicable). A request is considered valid once we have received all required authorizations from all borrowers on the account.

Where we cannot provide the title deeds on ATR within 10 working days, we will explain in writing why and when we expect to provide them.

All title deeds are held in a secured location offsite.

How are title deeds sent?

Deeds are either sent to your solicitor by DX (document exchange used by solicitors) or by registered post.

What payment methods do you accept for final redemption payments?

We accept bank draft, cheque and EFT (electronic fund transfer).

To pay by bank draft or cheque:

  • Write your full name and mortgage account number on the back.

  • Send it to Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.

To pay by EFT, you will need:

  • IBAN and BIC of your mortgage account

  • Your mortgage account number

All this information is available on MyPepper or if you cannot access MyPepper, please call us on 0818 818 181

To make the payment:

  • Go to your bank or financial institution (online or in-branch)

  • Set up the payment using the BIC and IBAN details of your mortgage account

  • Include your mortgage account number in the transaction description or reference

Note: EFT payments can take up to 3 working days to reach your account.

What happens once my mortgage account is closed?

The mortgage account will be closed once all funds have been paid and a closing statement will be issued. Once the closing process has been completed, your title deeds will be released.

Your mortgage will no longer be reported to the Central Credit Register.

I have paid off my mortgage. How do I get the physical title deeds?

When a mortgage is paid in full and the property is no longer relied on as security for any other mortgages, we will release the charge on the property.

The physical title deeds will be returned to you (or your nominated solicitor) after we receive the fee and a written request from all the borrowers on the mortgage.

Please also send a written request signed by all borrowers confirming where you wish the title deeds to be sent. Write to: Pepper Advantage, 4310 Atlantic Avenue, Westpark Business Campus, Shannon, Co Clare.

When you receive the title deeds, it is advisable to lodge them with your solicitor or in another secure location for safekeeping.

Please see the Contact us page for our contact details.

Contact FAQs

  • Email: comms@peppergroup.ie
  • Phone numbers of different Pepper teams: Contact us
    We’re here to help: Monday to Friday, 9am to 5pm, excluding bank holidays and public holidays
  • Write to us at:
    Pepper Advantage
    4310 Atlantic Avenue
    Westpark Business Campus
    Shannon
    Co Clare

We have a list of Useful contacts.