Big Savings.
Someone who has a mortgage of €150,000 and is paying a 4.5% standard variable rate could save over €180 a month, or over €2,160 a year, by switching to the cheapest rate on the market. And while there are some upfront costs associated with switching mortgage provider, in many cases banks will provide cashback to those who switch or a contribution towards the legal fees.
And while switching may not be an option for everyone or indeed the right advice for everyone, particularly for those who are in negative equity, or on a tracker rate, we’d encourage anyone who’s been with their mortgage provider for a few years to review their options and see whether they could save by switching to a better deal. For more on Switching providers, click here