Darren Hennessy and Emer Barrett sue over mortgage interest

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Darren Hennessy and Emer Barrett brought a High Court action against Pepper Finance over allegedly unfair mortgage interest. The dispute concerns their home in Togher, Co Cork.

The couple claim Pepper charged them 8.5% interest, compared with just over 4.3% they would have paid had their loans remained with Permanent TSB. PTSB sold their loans in 2019. It was claimed that Pepper had justified its variable rate increases by reference to market conditions, including recent European Central Bank rate increases to address high inflation. The couple dispute that justification.

They seek declarations and orders concerning alleged breaches of their loan agreements and EU consumer rules, along with damages for alleged breaches of contract and statutory duties.

Their counsel said they had kept up with scheduled repayments, but the interest increases meant an extra €7,400 annually and were causing difficulties. The claims remained unresolved in the reports.

On 7 November 2023, Mr Justice Mark Sanfey adjourned the action to later that month after the couple sought permission to serve short notice of a motion for a timetable to exchange legal documents.