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.
Who’s Suitable
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.
The Costs
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.
The Risks
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.
*Information correct as at 25/01/2022
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*Subject to underwriting criteria, lender terms and conditions apply.
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Warning: If you do not keep up your repayments you may lose your home.
Warning: The Entire amount that you have borrowed will still be outstanding at the end of the interest-only period.
Warning: The cost of your monthly repayments may increase.
Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.
Warning: Purchasing this product may negatively impact on your ability to fund future needs.
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