Cork couple sue 'vulture fund' over allegedly 'unfair' mortgage interest rate

The High Court heard the case may have implications for thousands of other mortgage holders

The couple allege the  rate is being "driven exclusively" by Pepper's desire to obtain "the maximum amount it can extract from its consumer base with a view to making a profit." File picture: Unsplash

A Cork couple have launched a High Court action over the "out of proportion" and "unfair" high rate of interest they claim they are being charged on their mortgage by the 'vulture fund' that acquired their loans from a bank.

In a case which the court heard may have implications for thousands of other mortgage holders, Darren Hennessy and Emer Barrett have sued Pepper Finance Corporation Ireland DAC.