Switch & Save
A mortgage is the biggest financial commitment and one of the largest monthly outgoings you will have in your life time. It may be a few years or many years since you last reviewed or took out your mortgage but now might be the best time to look at switching your mortgage. Do you know your current mortgage rate? Did you know the average mortgage rate in Ireland last year was 2.91%?
Reasons to switch your mortgage from your current lender:
- Reduce monthly mortgage payment
- Reduce mortgage term
- Save thousands on interest
- Put money aside for that rainy day, holiday, home improvement, savings or educational fees
Switching your mortgage could potentially cost you nothing with contribution fees starting from €1,500 to €5,000 and cash back offers on mortgage amount drawn down. Costs associated with a switcher application are legal fees approximately €1,500, prices vary and we recommend getting quotes inclusive of VAT, and valuation fee of €150 – €185. You may incur a breakage penalty if you switch during a fixed rate period.
Insight into repayments on a €250,000 mortgage over a term of 25 years as per rates below
|Rate||Monthly Payment||Annual Payment||Overall Payment||Cost Of Credit|
The below examples show the savings when switching from a specific rate to various lower rates. The savings are shown per month, per year and over the 25 year term. These are not the actual monthly, annually or total payments.