Switcher Mortgages
Fiduciam Financial Planning provide advice and recommendations to clients who are interested in switching their mortgage. While switching mortgage providers can seem intimidating at first, our mortgage advisors make every effort to make the process simple, fast and most importantly of all, stress-free.
With variable rates always changing, it really pays to shop around for a better mortgage deal. As fully independent mortgage brokers, we can scour through the entire Irish mortgage market, helping clients to find the very best deal for their needs. The major advantage of researching the market is the potential savings on offer. A lower variable rate on your mortgage can lead to significant annual savings. Why pay more for your mortgage repayments when you don’t have to? To discuss a switcher mortgage with Fiduciam Financial Planning please contact our offices today.
Switcher Mortgages
What is the cost of switching mortgages?
The major cost associated with switching a mortgage is the legal fees associated with the switch. These legal fees usually put individuals off switching their mortgage. However, many banks now offer cash incentives to switch mortgages. These incentives in a lot of cases can cover legal fees. However, even without a cash incentive, the overall savings that can be made by switching mortgages will easily cover any legal fees in the long run.
Can anyone switch mortgages?
Each bank has a different set of criteria for switching mortgages. Also, if your financial circumstances have changed for the worse since you got your original mortgage, you may experience problems when trying to switch your mortgage. Finally, as a rule of thumb, you usually need about €50,000 remaining on your mortgage for a lender to consider your switcher application.