Alison Fearon from Switcheroo.ie gives the top 5 reasons for switching
Yes that’s right, more and more customers are switching their mortgage and saving thousands in the run up to Christmas. So unless you are too busy binging on creepy Korean box sets, here are the top 5 reasons for Irelands switching bonanza:
1. Rates are now very competitive for switchers: new mortgage entrants have stimulated a fresh round of competition and rates are now as low as 1.95%
2. Fixed Term are now longer: Low interest rate environment and fixes up to 30 years now available
3. Green is good: Climate agenda is on people’s minds and banks have now introduced competitive green mortgages with discounts of 0.30% available from regular rates if your property has a BER rating of B3 or above.
4. Breakage fees are low: with interest rates stable over the last 5+ years breakage costs are relatively low so don’t think you are locked in.
5. Inflation is beginning to rise: with high levels of government financial support, energy costs and supply chain issues are driving prices and inflation up. This could this lead to interest rate increases and people are locking in their fixed term rates
Switching your mortgage will save you money, so why not get on with it now so you can get savings ready for Christmas.
Switcheroo.ie covers all the mortgage providers groups in Ireland and so can provide you with the access to these products and the necessary advice.
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