Cork couple's challenge to fund's high interest rate on mortgage goes to mediation

They claim Pepper is charging them an unfair rate of 8.5% whereas had their loans remained with PTSB, they would be paying just over 4.3%

The couple took out a 35-year mortgage with PTSB in 2005 on their home and got further borrowings from the bank in 2007 to renovate the property. File picture

Mediation is to take place in a case brought by a married couple over the alleged high rate of interest they are being charged on their mortgage after the loan was acquired by a fund from a bank.

Darren Hennessy and Emer Barrett have sued Pepper Finance Corporation Ireland Dac which the court heard on Friday is an agent for a company called Glenbeigh Securities 2018-1 Dac.