This week Tara Wylie of New Star Financial Management talks to Topic about Switching your Mortgage.
When it comes to supporting your family’s financial future, making the right mortgage decisions can have a profound impact. If you’re like many Irish homeowners, you may be paying more than you need to on your mortgage. Switching could save you thousands of euros and free up funds for the things that matter most—whether it’s your children’s education, family holidays, or simply building a rainy-day fund.
Why Switch?
• End of Fixed Rate: If your fixed-rate term is ending, you’ll likely default to your lender’s standard variable rate—often much higher than what’s available elsewhere. This is the perfect time to explore better deals.
• Lower Interest Rates: Mortgage rates in Ireland vary signifi-cantly, with some lenders offering rates as low as 3% while others exceed 6%. Even a small reduction in your rate can lead to substantial savings.
• Cashback Offers: Many lenders offer cashback incentives, sometimes up to 2% of your mortgage value. These funds can offset switching costs like legal and valuation fees, making the process even more worthwhile
• Tailored Terms: Switching allows you to adjust your mortgage term or switch between fixed and variable rates, ensuring your loan aligns with your current needs and goals.
Talk to a Broker
Many people worry that switching is too complex or costly. However, working with a broker like New Star simplifies the process. Not only do we have access to all lenders in the Irish market, meaning you get to choose from the very best products and rates available, we also handle all the paperwork on your behalf and liaise with your solicitor to ensure the switch happens smoothly.
Furthermore at New Star, we don’t charge a fee for this service, plus we offer competitive life assurance and income protection cover should you be unable to work due to accident illness or injury.
The Bottom Line
Switching your mortgage isn’t just about saving money—it’s about taking control of your finances and securing the best deal for your family’s future. If your fixed rate is due to expire soon, don’t let it cost you thousands. Contact us and see how much you could save.
For more information, call New Star on 044 933 5443, Email tara@newstarfm.ie or see www.newstarfm.ie
