The Mortgage Switcher market is wide and varied. Most Mortgage Providers want your business and they offer all kinds of incentives to those looking to switch their mortgage, but, which switcher mortgage package is best suited to your particular financial needs? We, at Bestrates.ie have a wealth of knowledge and experience in dealing with Clients who want to Swich Mortgages and Mortgage providers. At Bestrates.ie it is our policy to spend some time getting to know our clients and their individual Financial needs.
Below are a few things to consider when looking to switch mortgage:
• Credit Rating - An Irish Credit Bureau and most likely a Central Credit Register check will be carried out by the new mortgage provider.
• Loan to Value (LTV) - Your LTV rate can change based on the amount outstanding reducing and your house value changing up or down.
• Mortgage Balance - The balance outstanding on your current mortgage will be a determining factor when looking to switch mortgages.
• Mortgage term remaining - Both minimum and maximum mortgage terms can apply if you are switching.
• Fixed rate mortgage - If you are locked into a fixed rate with your current lender and you opt out of it early, there may be a breakage cost to pay.