Switching Mortgage Guide | Switch & Save Today

In today's competitive mortgage market many borrowers choose to remortgage (switch their current mortgage for a better deal) every few years in order to take advantage of new rates and products on offer.

Switching lender will help you save money over the life of your mortgage. When switching lender you could also consolidate your debts, carry out home improvements or raise equity for a variety of purposes

How to switch mortgage?

  • Assess your current mortgage terms. Understand the terms and conditions of your existing mortgage, including the interest rate, repayment terms, and any penalties for early repayment.
  • Contact us today and we will advise how much you can save by switching lender. We will go through a list of interest rates available from all the lenders to ensure you are getting the best rate on the market.

What documents are required for switching mortgage?

  • Proof of Income
  • Bank Statements
  • Proof of Identity

How to switch mortgage?

Is there a penalty for switching mortgage?

Your lender may charge a breakage fee if you are still locked into a fixed rate. When assessing your current terms, you can contact your lender and they will be able to advise if there will be any breakage fee for switching mortgage. 

How much money can I save by switching mortgage?

If you have mortgage of €250,000 outstanding over 25 years and paying a 4.50% interest rate you could save over €100 a month by switching lender.

Calculate how much you can save by clicking here

How much does it cost to Switch?

  • Broker – No Fee
  • Legal Fees - €1,000 to €1,500 (Depending on your solicitor)
  • Valuation fees €150 - €185 (Depending on the valuer)

Can I get cashback if I switch mortgage?

Some lenders now offer to pay a contribution to customers towards their switching fees and this payment normally covers the cost of switching lender. So, in many instances, switching lender will not cost you anything.

Why use a Broker?

  • Access to a variety lenders on the market
  • Best interest rates
  • Expert and impartial advice
  • Save time and effort

How to long does it take to Switch Mortgage?

On average it takes 5 to 6 weeks to switch mortgage to a new lender. The main delay can come from your solicitor obtaining the deeds from your existing lender. It is important to try have them request these as soon as possible.

How to Apply?

You can start your application today by making an enquiry online. We will discuss your mortgage options and, if all is in order, we can start your mortgage switching journey. Click HERE to make an enquiry.

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  • How much money can I save by switching mortgage?

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