how easy is it to switch mortgage providers?

K

kim

Registered User
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133
Hi

just wondering whats involved in switching mortgages from one bank to another?
 
It is the same process as taking out a new mortgage so payslips, current account statements, salary certificate etc required.

Your loan to value will need to be <92% and there may be legal fees involved in the switch. Some lenders will contribute to the legal fees.
There will be a valuation fee of €130.

www.moneybackmortgages.ie
 
no thanks I think ill stay where I am, too much hassle, thanks for the advice though. I fixed my mortgage in 2008 for 5 yrs and it was fixed at a high enough rate I cant remember the exact figure at the minute I was thinking maybe I should 'shop around'. can you reduce the years you have left on a mortgage without hassle for example I have 33 yrs left I want to bring it down to 30 yrs
 
As you are on a fixed rate until 2013 there may be a penalty if you wish to change the terms of your mortgage by bringing it from 33 to 30 years.
Best to check with your lender.
 
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