Home Mortgages Legal and Regulatory Information


PLEASE TAKE TIME TO READ THE BELOW IMPORTANT LEGAL INFORMATION & REGULATORY NOTICES
IMPORTANT NOTICES

 

Consumer Credit Act 1995 (as amended) Notices

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT

Where the interest rate for the loan is variable:
THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME.

Regulatory Notices

Warning: If you do not meet the repayments on your credit agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

Where the loan is to consolidate debts:
Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.

Where a variable interest rate applies to the loan:
Warning: The cost of your monthly repayments may increase.

Where the loan has an interest-only period:
Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.

 

Pepper Variable Interest Rate Policy Statement

 

The Central Credit Register

The Central Credit Register (CCR) was established by the Central Bank of Ireland under the Credit Reporting Act 2013. The CCR is a national database that will collect and store personal and credit information received from lenders for loans €500 or more.  It will provide:

  • a borrower with an individual credit report detailing their credit agreements; and
  • a lender with comprehensive information to help with credit assessments.

Link to Central Credit Register Factsheet

For more information on the CCR you can contact the Central Bank of Ireland as follows:

Online:       www.centralcreditregister.ie

Email:          consumerinfo@centralcreditregister.ie

Lo-call:        1890 100 050

Landline:    01 224 5500

 

Mortgage Fees & Cost

This tariff provides details of the fees and charges that apply to your Pepper Money or Pepper Homeloans mortgage loan (the ‘Loan’) and should be read in conjunction with the offer letter issued to you (the ‘Offer Letter’) and the Pepper Homeloans General Loan Conditions (the ‘Loan Conditions’), which provide information about your Loan, and the interest rates and fees and charges that may apply.

Pepper Money and Homeloans fees:

Charge Amount Frequency
Arrangement fee 0.50% of the Loan Amount subject to a maximum of €1,800.00 Per mortgage loan
Third party authorisation letter €13.00 Per request
Statement on request €6.00 Per request
Alteration to mortgage terms €70.00 Per alteration
Direct debit alteration €13.00 Per alteration
Copy of document €6.35 Per document
Unpaid instalment €12.00 Per unpaid instalment
Reminder letter on unpaid fees €10.00 Per letter
Call out fee (inclusive of all relevant third party charges) €70.00 Per call out
Tracing fee (inclusive of all relevant third party charges) €80.00 Per request
Scheduling fee €38.00 Per request
Mortgage deed sealing fee €38.00 Per request

Third Party Fees:

You may have to pay third party costs and fees which are incurred by Pepper Money or Pepper Homeloans in the instruction of third parties and are directly payable by you in relation to your loan and the mortgage.

 

Valuation fee €150
Structural survey fee (if required) €500.00 – €1,000.00
(dependent upon degree of inspection required)
Legal fees* (Buy to Let only) €1,550.00 inclusive of outlays
* This fee relates to the Pepper Money or Pepper Homeloans’ legal costs in relation to the security over the property/properties to be secured. It does not relate to any cost incurred by Pepper Money or Pepper Homeloans in respect of, arising from or in connection with, the legal investigation of title to that property/those properties.
Buildings insurance lapsed fee €81.00 per €100,000.00 outstanding on the loan, (payable per annum).
Example: Balance Outstanding on loan of €250,000, €81.00 x 2.5 = €202.50 payable per annum

Note

Please note – in accordance with the Code of Conduct on Mortgage Arrears (‘CCMA’), neither Pepper Money, nor Pepper Homeloans will impose any charges and/or surcharge interest on arrears arising on a mortgage account that is in arrears to which the CCMA applies. Further details in relation to arrears are set out in the Offer Letter and the Loan Conditions.

Data access requests

To make a data access request please submit your request, in writing to Customer Services Department, PO BOX 693, Shannon, Co. Clare outlining the specific information that you require. A fee of €6.35 applies to data access requests. Under the Data Protection Acts 1988 and 2003, Pepper Money and Pepper Homeloans will provide a response within 40 calendar days of receipt of the appropriate fee and written request.

Early repayment charges

Please note that additional costs and fees may be incurred if you choose to repay your loan early. Information on early repayment costs and fees and when they might apply can be found on the Offer Letter and the Loan Conditions.

Principal Dwelling Homes

A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €585.11 per month at 3.60%%variable (Annual Percentage Rate of Charge (APRC) 3.75%. The APRC is inclusive of €150 Valuation Fee; an Arrangement Fee (based on 0.5% of the mortgage loan amount up to a maximum of €1,800) as detailed as part of the mortgage loan application process and a Mortgage Charge of €175 paid to the Property Registration Authority. Additional fees may apply on a case by case basis. The total amount you pay is €142,410.60. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income and 80% of the property value (90% of the property value for First Time Buyers). A 1% interest rate rise would increase monthly repayments by €49.21 per month. The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home. These will vary according to individual circumstances.

Buy-to-Let Properties

A typical buy-to-let mortgage of €100,000 over 20 years with 240 monthly instalments costs €648.96 per month at 4.80% variable (Annual Percentage Rate of Charge (APRC) 5.19%. The APRC is inclusive of €150 Valuation Fee; an Arrangement Fee (based on 0.5% of the mortgage loan amount up to a maximum of €1,800) as detailed as part of the mortgage loan application process and a Mortgage Charge of €175 paid to the Property Registration Authority. Additional fees may apply on a case by case basis. The total amount you pay is €156,574.81. We require property insurance. You mortgage the property to secure the loan. Maximum loan is generally 70% of the property value. A 1% interest rate rise would increase monthly repayments by €55.98 per month. The cost of your monthly repayments may increase – If you do not keep up your repayments you may lose your home. These will vary according to individual circumstances.

LTV = Loan to Value

APRC = Annual Percentage Rate of Charge

BTL = Buy to Let

Pepper Finance Corporation (Ireland) DAC trading as Pepper Money, Pepper Asset Servicing and Pepper Homeloans, is regulated by the Central Bank of Ireland.

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