Switchers
Switch Mortgage Ireland – Compare Every Lender and Save
Switching your mortgage in Ireland is one of the most effective ways to reduce your monthly repayments, yet most homeowners never do it. If your fixed rate is ending or you are on your lender’s standard variable rate, switching your mortgage could save you €200 to €400 per month depending on your outstanding balance.
At MyMortgages.ie, our independent, CBI-regulated advisors compare every lender in the Irish market on your behalf at no cost to you. We handle the full switching process from start to finish.
Why Switch Your Mortgage Now?
With interest rates having moved significantly over the past two years, many Irish homeowners who took out mortgages during the low-rate period are now coming off fixed terms and rolling onto standard variable rates that are considerably higher. The difference between your current rate and the best available rate in the market could amount to thousands of euro per year.
The most common reasons to switch mortgage in Ireland are:
- Your fixed rate period is ending and you want to lock in a new competitive rate
- You are on a standard variable rate and have never reviewed your options
- Your home has increased in value, improving your loan-to-value ratio and your rate eligibility
- You want to reduce your monthly repayments or shorten your mortgage term
- You want to release equity from your property
- You qualify for a green mortgage rate (BER rating B3 or above)
Who Should Consider Switching?
Switching your mortgage in Ireland is available to most homeowners, but it works best for people in the following situations. You may be a strong candidate for switching if:
- You have more than 12 months remaining on your mortgage
- Your outstanding balance is €100,000 or more (savings are most significant at higher balances)
- You are not currently in a fixed-rate period, or your fixed rate ends within the next 6 months
- You have been meeting your repayments without missed payments in the past 12 months
- Your property value has held or increased since you took out your mortgage
- You have not already switched in the last 12 months
Not sure if switching is right for you? Fill in the form below and one of our advisors will assess your situation and tell you honestly whether it is worth it.
How the Mortgage Switching Process Works
Switching your mortgage in Ireland typically takes 4 to 8 weeks from first enquiry to completion. Here is exactly how the process works when you come to MyMortgages.ie.
- Initial Assessment
Complete the switcher form below or call us directly. We will review your current mortgage, your lender, rate, outstanding balance, and term remaining, and calculate your potential savings across the market. - Market Comparison
We compare rates across all lenders we work with including Avant Money, Bank of Ireland, Haven Mortgages, ICS Mortgages, MoCo, Nua Money, PTSB and Spry Finance. We identify which lenders will accept your application and which offer the best rate for your loan-to-value profile. - Application and Approval
Once you choose your new lender, we prepare and submit your full mortgage application. We manage all communications with the new lender and keep you updated throughout. Most applicants receive formal approval within 2 to 4 weeks. - Solicitor and Legal Stage
Your solicitor handles the legal transfer from your existing lender to the new one. Many lenders offer a legal fee contribution of €1,500 or more to cover these costs. We will advise you on which lenders are currently offering this. - Completion
Your new mortgage goes live, your old one is paid off, and your new lower monthly repayment begins. The full process typically takes 6 to 8 weeks from first contact to drawdown.
There are no upfront fees. MyMortgages.ie is paid by the lender on completion not by you.
How Much Could You Save?
Contact MyMortgages.ie today for a free initial assessment. Let’s discuss your current mortgage situation and explore how much you could potentially save by switching to a new deal.
Loan amount of €350,000 over 30 years with a Loan to Value of 60%.
| Before | After |
| €2,087 /m (5.95%) | €1,660 /m (3.95%) |
Total savings €426 /m or €5,112 per annum or €153,360 over 30 years
Disclaimer: This is an illustrative example only. Actual savings will vary based on your outstanding balance, loan-to-value ratio, and the rates available at the time of your application. MyMortgages.ie is regulated by the Central Bank of Ireland.
Frequently Asked Questions – Switching Your Mortgage in Ireland
How long does it take to switch mortgage in Ireland?
The typical timeline from first enquiry to completion is 6 to 8 weeks. Initial approval in principle usually takes 5 to 10 working days once we submit your full application. The legal stage with your solicitor takes a further 2 to 4 weeks.
Can I switch if I am still in a fixed rate period?
Yes, but it may involve a break fee charged by your current lender. The break fee can vary significantly depending on your lender and how much time remains on your fixed term. We will calculate the break fee and compare it against your potential savings before recommending whether to proceed.
How much does it cost to switch mortgage in Ireland?
Switching through MyMortgages.ie is free to you. There is solicitor fees involved in the legal transfer, but many lenders currently offer a legal fee contribution of up to €1,500 to cover these costs. We will advise you on which lenders are offering this at the time of your application.
Do I need a new valuation to switch mortgage?
In most cases, yes. Your new lender will require a current valuation of your property to confirm the loan-to-value ratio. Valuation fees are typically €150 to €200. Some lenders will contribute to this cost. Your MyMortgages.ie advisor will confirm what is required for your chosen lender.
What documents do I need to switch my mortgage in Ireland?
You will typically need: your last 6 months of mortgage statements, your last 3 months of bank statements, proof of income (payslips or accounts if self-employed), your most recent P60 or Employment Detail Summary, and a current valuation of your property. Your advisor will give you a full checklist based on the lender you apply to.
Get in Touch
Contact [email protected] or call +353 21 4277037 or +353 86 8060601 (anytime) for a complimentary initial chat.