Switcher Costs & Criteria:

What Is a Switcher Mortgage?

A switcher mortgage allows you to move your existing home loan from one lender to another — typically to secure a lower interest rate, better terms, or added benefits like cashback offers. In Ireland, thousands of homeowners are switching to take advantage of competitive deals and rising property values.

Why Switch Your Mortgage in 2025?

• – Lower interest rates: Many lenders are offering reduced fixed and variable rates.

• – Cashback incentives: Some banks offer up to €2,000–€3,000 cashback for switchers.

• – Improved loan-to-value (LTV): Rising property values mean better rates for many homeowners.

• – Flexible terms: Choose between fixed or variable options to suit your financial goals.

If your current mortgage deal is more than a few years old, you could be overpaying each month without realizing it.

How to Apply for a Switcher Mortgage

– Review your current mortgage: Check your interest rate, term, and any early exit fees.

– Compare switcher deals: Use a mortgage broker or comparison site to find the best rates.

– Get approval in principle: This shows lenders you’re eligible to switch.

– Submit documents: Include proof of income, ID, and property valuation.

– Complete the switch: Your new lender will handle the transfer and pay off your old mortgage.

Note

Redemption penalties may arise if you are breaking an existing fixed rate mortgage agreement. If you are looking to switch and are in a fixed rate mortgage agreement you will need to check with your current lender what if any penalty is payable if you switch.