USEFUL RESOURCES

÷ CCPC.IE This is the website of the Competition and Consumer Protection Commission. It has a very comprehensive and useful guide to switching mortgages, which explains whether or not you will be eligible to switch your mortgage, things you need to consider — and how to go about switching your mortgage. To bring up the guide, click the ‘Find out more’ button in the ‘Consumers’ section of the main home page, then ‘Mortgages’ in the ‘Financial Comparisons’ drop-down menu, then click the ‘Mortgage Information’ link — and finally click ‘Switching lenders or mortgages’. ÷ AIB.IE/OUR-PRODUCTS/MORTGAGES/ MORTGAGE-INTEREST-RATES This link, which is part of AIB’s website, provides the latest information on the bank’s mortgage interest rates. ÷ ULSTERBANK.IE Ulster Bank pays a €1,500 contribution towards legal fees — and offers free valuations. This offer is available to switchers, first-time buyers, home movers, and buy-to-let borrowers. You can get more information about this offer by clicking the ‘More about our mortgages’ link in the ‘Personal’ section of the website. ÷ PERMANENTTSB.IE Permanent TSB recently launched a new special offer, where new customers (including firsttime buyers and switchers) can get cashback equivalent to 2pc of the value of each monthly mortgage repayment they make (until the end of 2027). Under the offer, the bank will also give cashback of 2pc of the full amount of the mortgage drawn down (which is paid upfront within 20 working days of the mortgage drawdown). The offer is not available to buy-tolet investors. To find out more about the offer, and the conditions which must be met to take it up, click the ‘First-time buyer’ button in the home page’s ‘Mortgages’ section. Before being tempted by this financial incentive, compare the cost of other mortgages on the market — and see if you would save more money in the long run by opting for a lender who offers a lower interest rate rather than a special offer. ÷ BANKOFIRELAND.COM Bank of Ireland pays 2pc cashback when you switch a mortgage to it — and an additional 1pc cashback in five years’ time (as long as you still have your mortgage with the bank). So a customer switching a €250,000 mortgage to Bank of Ireland would get €5,000 back in cash upfront, and an additional €2,500 in five years’ time. To find out more about this offer, click ‘Cashback Plus with your mortgage’ on the home page. Bear in mind that these savings will be wiped out by the interest on your mortgage over time — particularly if you’re switching to a variable mortgage with Bank of Ireland, as the bank is the most expensive lender for variable mortgages. A lender who doesn’t offer such a cashback incentive, but who has a lower interest rate, will likely work out cheaper in the long run. ÷ KBC.IE This is the website of KBC Bank, which offers a competitive 10-year fixed rate mortgage and some of the lowest variable rates on the market.