Households are finally cottoning on – switching your mortgage can save you €100,000. Brokers MyMortgages.ie report a three-fold increase in switching and forecast double digits growth in the first half of 2018. One reason behind the rush is borrowers want to avail of cash incentives for switching in case they are banned, as Fianna Fail proposes. The brokerage firm cities one couple who had a €390,00 (LTV <80%) mortgage over 28 years at a variable rate of 4%. They switched to a four-year fixed rate of 2.6% and lowered their repayments by €300 – saving themselves €99,000. You can save €311 per month and €112K over an average €350K mortgage, said Joey Sheahan, of MyMortgages.ie
Source: Mail On Sunday 21/01/2018
If you are interested in getting a mortgage and would like to speak to us at MyMortgages.ie please don’t hesitate to contact us at [email protected] in Cork +353 21 4277037 or 353 86 8060601
MyMortgages Ltd t/a MyMortgages.ie is regulated by the Central Bank of Ireland
