By switching your mortgage, you can save a lot of money. Mortgage is most likely to be the biggest household expense for many years, so this bill is one that most people do not want to overpay on. Therefore, just like any other bill, you should always opt to switch your mortgage every few years so that you can be sure that you are not overpaying.
Without a doubt, you could save a lot by switching mortgages. If you have a mortgage with a balance of €250,000 and are currently paying 4.5 percent standard variable rate, and have a minimum of 20 percent equity in your home, you could save approximately €300 each month by switching to the most affordable on the market. This translates to a lot of savings. Despite the fact that there are certain upfront costs linked to switching providers, banks can offer cashback to the individuals who switch.
Every financial institution has its unique set of criteria for allowing its customers to switch their mortgage. In the event that your financial situation has changed negatively since …