Switching is easy and we are here to guide you through the process and identify the lender and rate which is most suitable for you.
- If you have not reviewed your mortgage you could be able to switch to a lower rate, which could save you thousands over the course of your mortgage (see example below).
- A major factor to consider is the current rate with your existing mortgage provider and if you are on a fixed or variable rate. People who have a variable rate can look at their options to switch for a reduced fixed rate which could see significant savings in their mortgage.
- For those on a fixed mortgage there may be penalties if you switch so it is important to check this information with your existing lender.
|2.2% rate =||€1,085 per month||€325,245.00 (total repaid over mortgage)|
|3.9% rate =||€1,305 per month||€391749.00 (total repaid over mortgage)|
The Benefits of Switching:
- Lower interest rate will reduce your monthly repayments;
- Reduce the term of your mortgage;
- Free equity in your home for home improvements;
- Consolidate debt into single payment.
How it works?
- We will review and assess your existing mortgage and compare this to other rates available to see how much you can save. Once we have identified the best option for you we can manage your application from start to finish and be there for any queries you may have along the way.
The switching process
- We will go through documents that are required for your application and once submitted and approved you can proceed with your mortgage switcher. You will need to have mortgage protection and home insurance in place to complete your switch. A valuation of your home will also be required by the new lender.
How much does it cost?
- There are legal costs to switch your mortgage, this can vary so it is a good idea to shop around for value. Currently there are incentives from lenders, which can go towards covering any associated costs.