Switch and Save
If you are in a position to switch, it can make financial sense to do so. You will have a lower interest rate and in turn a lower monthly repayment. Up to €3,000 cash back on successful applications.
Switching your mortgage isn’t free. Banks will typically require you to get a valuation of the property carried out ahead of switching and you can expect this to cost upwards of about €130+VAT. Generally this isn’t paid for by a bank.
Banks will typically only consider switching applications from those whose loan represents 80 per cent or less of the value of the property. While rising prices may have helped in this regard, it may still exclude some.
Just like any time you fix your mortgage or opt for a variable rate, switching mortgage providers brings the risk that your current provider might actually end up offering better rates than the provider you move to.