Over the last 3 years a number of mortgage providers have both exited and entered the market. Some of the traditional Banks like Ulster Bank and KBC are leaving and are being replaced with broker only lenders such as Finance Ireland.
This means that the process of getting information on mortgages has also changed.
Mortgage switcher rates
Mortgage switcher rates are the same as new rates with most lenders. Some do offer better rates for new customers so keep an eye out for this. A good place to look is bonkers.ie. Rates have been rising rapidy in the last number of months and are expected to keep rising in 2023. Its our estimate that rates by mid 2023 with most lenders will be at least 4% plus – if not higher. You should try to get the best mortgage switcher rate now – contact us to learn more.
By using a Pangea mortgage broker, our staff will be able to provide impartial advice to you as they are not tied to any one lender. They will compare the key factors you need to consider when switching your mortgage.
This will include the interest rates, monthly repayments, any cash back offers, fixed or variable rates and length of the mortgage.
At present long term fixed rates are proving very popular with our customers – you can now switch your mortgage and fix for upto 30 years !! Some lenders are also offering to cover legal fees if you switch to them before a certain date – speak to Pangea mortgages to find out more.
There are many factors that go into making a decision on finding which mortgage is right for you. Most mortgage providers will have small print sections with their T&Cs and its important you have an expert on your side to advise you.
Pangea can provide guidance to switchers across a range of complex mortgage issues and terminology.
We will provide you with detailed calculations so you can clearly see all the costs and benefits involved in switching your mortgage.