We all shop around for home insurance and car insurance every year however, when it comes to our mortgages, there is a reluctance to do so.
At Hughes Murphy we have seen lots of clients gain huge financial benefits from shopping around and switching their mortgage provider. It is important to talk to a mortgage advisor and set out your current mortgage arrangement and they will be able to talk you through potential savings in switching your mortgage.
Switching your mortgage is not for everyone as circumstances will vary across the board, however, the Central Bank has indicated that over 25% of borrowers could make substantial savings by switching their mortgage provider.
We have completed many mortgage switchers over the last 12 months and we would have the following advice:
- Consult with a Mortgage Broker as different lenders offer different incentives including lower interest rates, cash back offers and a contribution towards legal fees.
- Prepare all the relevant documentation that your mortgage broker will need which includes; P60’s, 6 months current account statements, 12 months mortgage statements, proof of address and ID.
What Legal Fees are involved in Switching?
At Hughes Murphy Solicitors we charge a flat fee of €600 plus VAT plus outlay for switching your mortgage.
If you require any further information please do not hesitate in contacting our
expert conveyancing team at Freephone 1800 910 912 or click on Contact Us Now