Ciarán O’Flaherty (QFA RPA)

For most households, the mortgage is the single biggest monthly outgoing. If you have been on the same rate for a few years, there is a strong chance you are paying more than you need to, often without realising it.

Recent figures from Banking & Payments Federation Ireland (BPFI) show that re‑mortgage and switching activity has surged, with switching volumes up more than 35% in 2025 and values up over 55% versus the previous year. In the first half of 2025 alone, the value of switcher mortgages reached €732 million, the third‑highest H1 level since 2008. [1]

This tells us two things:

Thousands of borrowers are already using the market to their advantage.
If you have not reviewed your mortgage recently, now is a very good time to see what you could save.

New rules and a smoother switching process

The Central Bank’s revised Consumer Protection Code has made life easier for switchers. Lenders are now required to provide clearer, personalised savings estimates and to release key documents, such as title deeds, within specific timelines. [2]

Which means: There is better information upfront about the potential benefit of switching and overall fewer administrative bottlenecks as your new and old lenders coordinate the changeover.

What does switching or remortgaging actually mean?

Switching your mortgage isn’t moving house, it’s just changing the loan behind it.

You:

Keep your home and your address
Move to a lender offering sharper rates and better features
Save thousands over the remaining term

You remain in your home – but your mortgage works harder for you.

What kind of savings are we talking about?

The exact saving depends on your balance, rate and remaining term, but many clients are:

Dropping their rate by 0.5–1.5 percentage points,
Saving hundreds of euro per month, or
Keeping repayments similar while shaving years off the term of the mortgage.

Even when you factor in switching costs (legal fees, valuation, any new protection or home insurance arrangements), these savings often pay back the upfront outlay within a short period – and then it is pure benefit. Some lenders also offer cashback incentives of up to 2–3% of the mortgage amount, which can help cover those costs.

Part of my job is to run those numbers with you so we can clearly answer one key question: “Does this switch make financial sense for me, in my situation?”

Why use a broker rather than go direct?

On paper, you can switch by walking into your own bank and asking what they can offer. In practice, that only shows you one of your options.

At Irish Mortgage Corporation, we:

Work with all the major lenders, giving you visibility on all of the rates on the market available to you, other incentives and the eligibility criteria.
Compare options side‑by‑side, including fixed and variable terms, green rates and cashback offers.
Flag the true cost of each deal (rate, fees, incentives, and conditions) so you can see the real winners, not just the headline.

BPFI data shows that a significant share of switchers now use brokers, reflecting the value of impartial advice when you are making a long‑term financial decision.

My job is to sit on your side of the table and make sure you are on the most suitable deal for where you are now, not where you were when you first took out your mortgage.

Take the next step with confidence

We are living in a time when many things feel outside our control. Your existing mortgage rate does not have to be one of them.

If you would like a clear, no‑jargon view of your options and a broker who will handle the legwork and fight your corner, I would be happy to help.

You can:

Share a copy of your latest mortgage statement and current rate,
Tell me what you are hoping to achieve (lower payments, shorter term, funds for improvements),
And I will come back to you with an honest assessment of whether switching makes sense for you.

There is no cost, no obligation – just informed advice so you can decide with confidence.