Hundreds affected by incorrect mortgage calculations

Hundreds affected by incorrect mortgage calculations

HUNDREDS of people in Ireland have been overcharged for their mortgage repayments by the largest credit servicing firm in the State.

According to, Pepper Asset Servicing has admitted that some people have been charged too much on their mortgages, while others have been charged too little.

Around 800 customers have been affected by the issues.

The problems were exposed on last week.

The average amount of over-payments was €100 per customer.

The firm also revealed that some customers have been issued with incorrect mortgage statements.

The Shannon-based company services around 50,000 residential mortgages on behalf of vulture funds and other unregulated investors.

The company confirmed that those incorrectly credited would have their funds returned to them with interest.

Pepper services mortgages originated by GE Monkey, Danske Bank, Bank of Scotland, and Irish Nationwide.