Remortgage
Remortgaging (or Switching Mortgages) is when you replace the existing mortgage on your property with a new one. There are many reasons why you might consider remortgaging including:
Obtain a More Competitive Interest Rate
You may want to get a more competitive interest rate from another bank so you can save more money on your mortgage each month. For example, an interest rate saving of 1% on a € 250,000 25-year mortgage would save you € 128 per month or € 1,536 per year which equates to a total saving of € 38,400 over the full 25 year term.
Warning: You may have to pay charges if you pay off a fixed-rate loan early. |
Consolidate Your Loans
You want to consolidate your existing loans with your mortgage and have one lower monthly repayment. While a lower monthly repayment may ease your monthly cash outflows, you should be aware that this new loan may take longer to pay off than your previous loans. This means that you may end up paying more than if you paid over a shorter term.
Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term. |
Ask Us A Question or Arrange a Meeting
For further advice, you can email us , call our team today on 021 4277000 or click here to request an online quotation.