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Switching Mortgage
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Switch and Save Today
In today’s competitive mortgage environment many existing borrowers choose to re-mortgage (switch mortgage provider) to enable them to obtain the most competitive rate available in the current mortgage market.
Switching lenders can help save you a lot of money over the life of the mortgage, it also provides an opportunity to fund home improvements, raise equity for other needs or consolidate some of your debts.
With Park Financial Planning’s switcher package, we search the market to find you the best mortgage rate from all the lenders that we deal with. Most lenders now pay cashback or contribute towards your switching fees so switching mortgage lender to avail of better terms usually comes at no additional expense to you.
Switching Calculator
Frequently Asked Questions
How to switch your mortgage?
Understand the terms and conditions of your existing mortgage, including the interest rate, repayment terms, and any penalties for early repayment.
At Park Financial we will then assess all your options to see how much you can save by switching.
What documents are required for switching mortgage?
- Proof of Income
- Bank Statements
- Proof of Identity
How much could I save by switching mortgage?
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.
You can also try our Switching Calculator to see how much you can save.
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 does it cost to switch mortgage?
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.
How long does it take to switch mortgage?
On average the process takes about 6 weeks. It is important your solicitor requests the deeds from your existing lender as soon as possible to avoid any delays.
