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
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.