Mortgage ruling could lead to personal insolvency becoming 'more of an option' 

A personal insolvency arrangement (PIA) was originally rejected by mortgage service firm Pepper Finance to give a financially distressed couple a fixed rate of 2.5% for 25 years. Tullamore Circuit Court then overturned that decision.

Personal Insolvency Arrangements (PIA) could “become more of an option” following a decision by a court that mortgage management company Pepper Finance must provide a couple with a fixed rate, ratings agency S&P Global has said.

Earlier this week, a Circuit Court ruled that Pepper Finance must give a low-interest fixed-rate to a couple who had difficulty repaying their mortgage. The company, which had acquired the loan, does not offer fixed-rates options.