How to save a six-fig­ure sum on your mort­gage re­pay­ment

With a war be­tween lenders in full swing, it’s a good time to switch from a pricey home loan to a bet­ter deal on a lower rate, writes Louise Mcbride

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

HOME­OWN­ERS could save as much as €133,000 on their mort­gage by switch­ing to a cheaper lender, an anal­y­sis by mort­gage bro­kers Dowling Fi­nan­cial and the Sun­day In­de­pen­dent has found. Fur­ther­more, with a mort­gage war in full swing and more in­ter­est rate cuts ex­pected from lenders in the com­ing months, even more sav­ings could soon be up for grabs by switch­ing.

The amount you can save when switch­ing de­pends on the size of your loan, the per­cent­age of the value of your home which you are bor­row­ing, and how ex­pen­sive your cur­rent lender is.

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