Switcher Mortgage
A ‘Switcher’ Mortgage is one where a different lender is re-financing or taking over an existing mortgage borrowing from another Lending Institution, allowing you to switch your mortgage without switching home.
Switcher Mortgage in Kildare, Ireland
What is a Switcher Mortgage?
A ‘Switcher’ Mortgage is one where a different lender is re-financing or taking over an existing mortgage borrowing from another Lending Institution, allowing you to switch your mortgage without switching home.
Why switch your mortgage?
The main reason for switching is to get a better interest rate and save money.
The benefits of switching mortgages in Kildare
- Lower monthly repayments
- Reduce your mortgage term
- Pay off a lump sum
- Overpay your mortgage may be possible
- Pay off your mortgage faster
- Release Equity in your home
How much could you save when you Switch Morgage?
You could save a substantial amount if you switch to a cheaper mortgage.
You will have to pay legal and valuation fees, but if you chose a cashback deal this could offset these costs.
We can run a comparison for you – talk to us
Are you eligible to switch?
Switching to another lender involves applying for a new mortgage and meeting their lending criteria – this will depend on a number of things combined.
- Loan to value
- Affordability – based on your income and outgoings
- How much you want to borrow
- Lenders minimum loan amount and loan term.
You have already been through the process of applying for your first mortgage but if you need a recap, please see our step by step guide for buying a home in first time buyers or download our free mortgage guide.
When should you switch mortgage?
It is worth thinking about re-mortgaging when you have reached the end of your fixed rate. There are three main factors
Eligibility to Switch Mortgage in Kildare, Ireland
Type of mortgage fixed or variable rate
How much you will save – including any costs, or cash back involved.
Costs involved with switching:
- Legal fees
- Valuation fees
- Early repayment charge (may be applicable
- Possible increase in life cover
Some lenders will offer a cashback to cover legal fees.
Frequently Asked Questions about Switcher Mortgage
If i switch and break a fixed rate will i pay a penalty?
Would you recommend in switching or should I always stay with the same bank?
Switching is not always for everybody, will you be better off financially after you have switched?
Get in touch with us and will go though the figures with you to see if it is worth switching mortgage to another lender.
How do I know which bank to switch to?
It depends on your circumstances, are you going after a particular rate?
We have all the banks to hand here so we will be able to run your figures this end and be able to advise which bank is best suited to switch to.
What will my new mortgage repayments be?
Gwen Clarke Financial Services Ltd’s team of experts offers a wide range of services, including investments, pensions, corporate pensions, mortgages, and life protection. We understand that each of our clients has unique financial needs, which is why we tailor our services to meet your specific requirements. Our goal is to help you achieve your financial goals by providing you with personalized advice and guidance every step of the way. Whether you’re looking to invest for the future, secure a mortgage, or protect your loved ones, we can help. Contact us today to learn more about our services and how we can assist you in your Switcher Mortgage application and in securing your financial future!