Couple’s legal case against Pepper’s ‘unconscionable and unenforceable’ rate hikes

Cork mortgage holders take finance company to High Court, claiming their repayments have increased by €7,400 a year

The couple’s case, which was before the High Court last week and returns later this month, challenges the legal basis on which Pepper – the owner and servicer of the couple’s loans – is permitted to increase the interest rates

Many homeowners have felt the brunt of rising mortgage payments in recent months, but a Cork couple took a stance against the rises last week when they brought legal proceedings against Pepper Finance over what they alleged were “unconscionable and unenforceable” rate hikes.

Darren Hennessy and Emer Barrett, of Togher, said the interest rates on loans they initially received from PTSB have risen to 8.5 per cent. This, they said, amounted to an increase of ...