Switch mortgage?

Hi, I bought my first home over a year ago and have a variable rate of 4.46% I am going on maternity leave shortly And am looking to make savings where I can. We have about €200k equity in our home and I was wondering if it is worth switching to another mortgage provider? I was looking on a couple of sites and plugging the figures in calculators it looks like we could save about €32 pm is it worth the hassle? Is there any risk with switching mortgage providers? I have no experience in this area. Thanks

You need to take into account the legal fees involved in switching your mortgage. It varies but you'd probably need to budget around €1000 to €1500. So that would put saving €32 a month into perspective.

Have you looked at KBC - I think they contribute to the cost of legal fees for switchers.

What new rate have you done your calculations on?

Does your current bank offer any payment holidays?

Both my maternity leaves were both paid at the statutory maternity pay which was a significant drop in income for me. I found I spent less than I expected though - you'll be home more with the baby & out socialising less. Less travel costs & lunches out.

The key figures you need to provide are
Value of your home
Size of your mortgage
Current lender