Lending Institutions are very good at recruiting new mortgage candidates and provide highly competitive discounted rates. In many cases, the lending community do so at a cost to their long-established existing book of mortgage holders? Could this be you?
There has been considerable media coverage regarding the substantial savings that can be achieved by switching your mortgage to a more competitive rate either with your own lender (or with an alternative). As Mortgage Brokers, we can scan the market and identify the best value from your perspective. The competition between lending institutions has intensified as they look to develop their lending book. They all seek the better quality lending where you have greater equity and lower relative borrowings. The “switcher” market has now significant traction and the competition has intensified. Therein lies the opportunity for you.
Are you paying more for your Mortgage than you need to?
At Money Plus, we specialize in extracting value. If you are paying a rate that is too high and you have equity in your home, you should talk to us. We will identify savings for you. If you are on a tracker or another equally competitive rate, we would recommend that you retain your existing mortgage. Either way, we will advise you appropriately.
Click on the below document to see examples of what kind of savings you could make!
Not only are lending institutions offering extremely competitive interest rates but in some instances, they are offering a significant contribution towards your legal fees. In essence, you can move lender, saving significantly on your normal monthly repayment and it will not cost you anything!
Recent client case studies on Mortgage Switchers
- Eoin & Rita were paying 4.5% on their Mortgage of €154,000 over 22 years. The monthly cost of €920.00. Now paying 2.7% and €774.27 per month. Total savings of €145.73 per month and over the remaining term a total savings of €38,472
- Bella & Michael were paying 4.2% on their Mortgage of €110,500 over 13 years. The monthly cost of €920.43. Now paying 2.9% and €851.07 per month. Total savings per month of €69.36 and over the remaining term a total savings of €10,820.
Let’s start reducing your monthly costs (or increase your savings). Contact us today on 071 919 4000 or by email on email@example.com and we can establish if savings can be engineered for you. If you have any questions or feedback on any aspect above, do get in touch. We look forward to hearing from you.
- Warning: Your Home is at risk if you do not keep up your repayments on a mortgage or any other loan secured on it
- Warning: You may have to pay charges if you pay off a fixed-rate loan early.
- Warning: The cost of your monthly repayments may increase.
- Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.