Switch your mortgage to a lower rate and save up to €20,000.

Switching mortgages can offer lower interest rates, reduced monthly payments, potential savings over the loan term, and improved financial flexibility. Getting a quote is the first step in your journey! Answer a few questions and wait for one of our Advisors to contact you!

How do I get started switching my mortgage?

It doesn’t matter who your current provider is, or if you want to save money on your repayments or keep your repayments the same to clear your Mortgage early. There has never been a better time to switch to a long term fixed rate. Especially with interest rates continually on the rise.

We are a market-leading online mortgage broker in Ireland andΒ we will always offer expert advice to make the process of switching Mortgage seamless and straightforward. We compare Ireland’s mortgage providers so that you don’t have to. Switch and save today, we’re always only a phone call away.

When switching mortgage, we’ve made it easier than ever to get started saving money by switching to a lower interest long term fixed rate.

All you have to do is enter some quick details and one of our award-winningΒ Mortgage advisors will get in touch with you. After your call you will be sent a link to our state of the art online application portal, which streamlines the mortgage switching process, allowing you to upload your documents and get approval online for your new mortgage.

Alternatively you can call our Mortgage department directly on

Switching Consultation

Book a switching appointment online and your Dedicated Mortgage Advisor will call you at a time that suits you best.​

Application

You will require 6 months of pay-slips and bank statements to apply for your Mortgage online.

Approval

Once your lender has approved your loan, your next mortgage repayments will be reduced.​

Start your journey today. Take the first step to achieve all your financial goals.

Meet our Team of Expert Advisors

How is the process to switch a mortgage?

1. Book an Appointment

Your dedicated award-winning mortgage advisor will guide you through your application.

2. Digital Application

Log in to your digital application portal and upload all documents required. You can even sign digitally to make the process even easier and hassle-free.

3. Approval

Check your application’s status at your convenience. Indicative Approval in 72 hours after assessment.

Watch our online system in action

Watch how seamless and straight-forward Applying for your first mortgage is. In under 10 minutes you can complete your application. All with guided assistance from your very own dedicated Mortgage advisor.

Would you like to speak to an advisor?

Our award winning team is always here to help you.

Google Reviews

LowQuotes.ie
4.9
Based on 1345 reviews
Lisa M.
Lisa M.
Ross really took his time to accommodated my busy schedule while getting me the best deal possible. It was really appreciated.
Mohmmed D.
Mohmmed D.
Excellent service specially Cormac has been amazing, highly recommended.
Laura W.
Laura W.
I cannot recommend Low Quotes highly enough. In particular Niamh. Niamh was with me from start to finish on my mortgage/insurance journey and the service I received from Niamh was simply exceptional. Her dedication, support and professionalism shown to me throughout my journey was just amazing. Niamh took the time to understand my needs and getting me the best deals on the market and for that I will be forever grateful. Her knowledge and expertise of the industry is fantastic. Niamh is an amazing asset to Low Quotes.
Response from the owner: Hey Laura,We’re absolutely delighted to hear about your experience with Niamh! It’s fantastic to know she was able to support you throughout your mortgage and insurance journey and provide such a high level of care and professionalism.Niamh is indeed a huge asset to our team, and we’ll make sure your kind words are passed on to her. We’re so glad she could help you secure the best deals and make the process smooth and stress-free.If you ever need anything else or have questions down the line, we’re only a message away. Thanks again for the glowing recommendation!Best regards,LowQuotes Team
Vignesh C.
Vignesh C.
Friendly customer service and would recommend for sure.
Response from the owner: Hey Vignesh,Thanks a million for the great review! We’re delighted to hear you had a positive experience with our customer service. We always aim to make things as smooth and friendly as possible, so your recommendation means a lot to us. If you ever need anything else, don’t hesitate to reach out.Best Regards,LowQuotes Team
Andrew L.
Andrew L.
I dealt with a very professional and informative person Shaneen any questions that needed answering were answered and explained in a very detailed and also simple way ! Between the first phone call I felt that Shaneen was there to help me out with ever need and the best policy availableThank you once again ShaneenHighly recommended 10/10
Response from the owner: Hey Andrew,We’re delighted to hear about your positive experience with Shaneen! It’s great to know she was able to answer all your questions clearly and guide you toward the best policy. We’re all about making things as straightforward and helpful as possible, so your kind words mean a lot.If you ever need anything else, don’t hesitate to reach out.Best Regards,LowQuotes Team
Brendan D.
Brendan D.
Amazing service from Tiernan at LowQuotes. He made the process of getting a mortgage so much easier and was helpful the entire way.The LowQuotes portal is easy to use and user friendly, which made document organisation much easier.
Response from the owner: Hey Brendan,We’re delighted to hear about your positive experience with Tiernan! It’s great to know he was able to make the mortgage process easier for you and provide helpful support throughout.We’re also glad you found the LowQuotes portal user-friendlyβ€”it’s designed to keep things simple and stress-free, so your feedback means a lot to us! If you ever need any further assistance, don’t hesitate to reach out.Best Regards,LowQuotes Team
Craig D.
Craig D.
Ross Kirwan was great help. Flexible for my hectic schedule. Thank you.
Response from the owner: Hey Craig,We’re delighted to hear about your positive experience with Ross Kirwan! It’s great to know he was able to work around your hectic schedule and provide the support you needed.If you ever need any further assistance, don’t hesitate to reach out.Best Regards,LowQuotes Team
Jacques P.
Jacques P.
Fast speedy review online and a few good options provided a good all round service
Response from the owner: Hey Jacques,We’re delighted to hear you had a great experience with our online process! Providing fast and efficient service with a range of good options is exactly what we aim for.If you ever need any further assistance, don’t hesitate to reach out.Best Regards,LowQuotes Team
Paul O.
Paul O.
Colin made the process so easy. Highly recommend.
Response from the owner: Hey Paul,We’re delighted to hear about your positive experience with Colin. It’s great to know he made the process so easy for you! We always aim to keep things simple and stress-free, so your recommendation means a lot to us.If you ever need any further assistance, don’t hesitate to reach out.Best Regards,LowQuotes Team
Sharon G.
Sharon G.
My experience was lovely dealt with a lovely patient man called cormac I had to get him to repeat himself twice on some details and was very understanding his tone never changed with me .cormac logue your a credit to this company.
Response from the owner: Hey Sharon,We’re delighted to hear about your positive experience with Cormac! It’s great to know he was patient, understanding, and took the time to ensure everything was clear for you. We always strive to provide a smooth and supportive experience, so your feedback means a lot to us.If you ever have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Keith H
Keith H
Excellent,,,My agent Aideen was very helpful, answered all my questions,and explained everything clearly,,,well worth a call ,,, 😁😁
Response from the owner: Hey Keith,We’re delighted to hear about your positive experience with Aideen! It’s great to know she was able to answer all your questions and explain everything clearly. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us! 😁If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Tomas O.
Tomas O.
Dealt with Shaun Young in relation to Health Insurance quotes. Very happy with the service provided. Extremely friendly, proffesional and efficent. Had the policy in place in less than 24hrs highly recommend.
Response from the owner: Hey Tomas,We’re thrilled to hear you had a great experience with Shaun! It’s fantastic to know he provided friendly, professional, and efficient service, getting your policy sorted in less than 24 hours. We truly appreciate your recommendation!If you ever need any further assistance, don’t hesitate to reach out.Best Regards,LowQuotes Team
Jade G.
Jade G.
Aideen Graham was so so helpful! I wasn’t familiar with any aspects of life insurance but she talked me through both policies. Will be recommending her 😊
Response from the owner: Hey Jade,We’re delighted to hear about your positive experience with Aideen! It’s great to know she was able to guide you through your life insurance options and make everything clear. Helping our customers feel informed and confident in their choices is always our goal!Thank you for your recommendationβ€”we truly appreciate it! If you ever have any more questions, feel free to reach out.Best Regards,LowQuotes Team
Krzysztof P.
Krzysztof P.
I recently had the pleasure of working with Alan. He made the insurance process a walk in the park. Friendly, knowledgeable and always willing to answer my questions. I highly recommend Alan to anyone looking for an insurance agency that puts their clients first. Alan’s professionalism is 5 stars!
Response from the owner: Hey Krzysztof,We’re delighted to hear about your positive experience with Alan! It’s fantastic to know he made the insurance process so easy and was there to answer all your questions. Providing friendly and knowledgeable service is what we strive for, so your kind words mean a lot to us!Thank you for your recommendationβ€”we truly appreciate it! If you ever need anything in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Jessica B.
Jessica B.
Aideen was so helpful and informative in explaining exactly why Private health insurance is important but also being very honest about what shortfalls they are and how much you can get from the Public system.
Response from the owner: Hey Jessica,We’re delighted to hear about your positive experience with Aideen! It’s great to know she was able to explain everything clearly and provide honest insights into both Private Health Insurance and the Public system. We aim to make the process as smooth and understandable as possible, so your feedback means a lot to us!If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Satwik K.
Satwik K.
Low Quotes provided me with required clarity in choosing from one of the providers they work with. Alison Fitzpatrick, was very prompt in providing me with required assistance. Made it easy for me to get the best quote and get my policy documents.
Response from the owner: Hey Satwik,We’re delighted to hear that Alison was able to provide you with the clarity and assistance you needed in choosing the right provider! Making the process smooth and ensuring you get the best quote is exactly what we aim for.Thank you for your kind words and for choosing LowQuotes. If you ever need any further assistance, don’t hesitate to reach out!Best Regards,LowQuotes Team
jitesh S.
jitesh S.
Aoife Morgan is awesome. Quick on chasing things and very efficient with docs and questions. Thanks to lowQuotes for the quick job.Highly recommend.
Response from the owner: Hey Jitesh,We’re delighted to hear about your positive experience with Aoife Morgan. It’s great to know she was able to assist you efficiently and keep things moving quickly. We aim to make the process as smooth and straightforward as possible, so your feedback means a lot to us!If you ever have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,The LowQuotes Team
Emma C.
Emma C.
As someone who hasnt done much research into Health insurance I really appreciated Shane's phone call from lowquotes as he informed me about so much and made me more aware about services etc. Shane was helpful honest and very pleasant on the phone. I will definitely be in contact with him again.
Response from the owner: Hey Emma,We’re delighted to hear that Shane was able to provide you with clear and helpful information about health insurance. It’s great to know he made the process easier and more informative for you! Our goal is always to ensure our customers feel confident and well-informed about their options.If you ever need further assistance, don’t hesitate to reach outβ€”we’d be happy to help!Best Regards,The LowQuotes Team
Dariia H.
Dariia H.
It was a great experience working with LowQuotes. Colin was dealing with our mortgage protection application and support us during this process, for which we are very grateful. Highly recommend!
Response from the owner: Hey Dariia,We’re so glad to hear you had a great experience with Colin and that he was able to support you throughout your mortgage protection application. We know how important this process is, and we’re delighted we could make it as smooth as possible for you.Thanks for your kind words and recommendation! If you ever need any further assistance, feel free to reach out.Best Regards,The LowQuotes Team
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What you require to switch Mortgage?

Before Applying

When switching mortgage, before you book your appointment with our mortgage advisors, you will need to know how much is still owed on your existing mortgage and your remaining term. More importantly you will need to find our either

  1. Your current mortgage repayment per month orΒ 
  2. Your current interest rate.

You can easily find this information out from your more recent mortgage statement or by calling your mortgage lender.

Lastly you will need a rough current estimate of the value of your property.

When Applying

After you answer some personal questions in our online application portal, you will be required to upload supporting documents for your switch. You can watch the online application process in our video byΒ clicking here

These are as follows (in no particular order) –

  • Proof of identity
  • Proof of your household income
  • Proof of address (dated within the last 3 months)
  • 6 months bank statements, including any loans or credit card statements.
  • Evidence of savings, if applicable
  • Last 3 payslips
  • Current employment status – Proof of permanent, contract, part-time employment

What's next in the Mortgage switch journey?

House Valuation

You will need to have a valuation done on your home, so your new mortgage lender knows how big your mortgage is in comparison to the value of your home (LTV rate). The more equity the better. The fee for this will only be around €150, so don’t sweat it! We can recommend someone when you are looking to switch.

Conveyancing

You will need a solicitor (we can help with this also). This is to take care of conveyancing and legal documents. They will go through the loan offer in detail to confirm the rates and terms of the loan offer are exactly what you have agreed to with your new lender.Β 

Mortgage Protection

Don’t worry – we’ve also got this covered for you! With the highest discounts available in Ireland and price match, price promise in place – we simply can’t be beaten on price. We will always recommend you get this as soon as possible in your mortgage journey, as there are many factors that can prevent you from getting cover.Β  See how much it will cost here withΒ our online quote comparison

It’s also important to cancel your old Mortgage Protection cover after your new policy is live.

Set up new direct debit

When your mortgage gets approved, you will be asked by your lender to complete a direct debit form, allowing them to collect payment from your bank account.

And that’s it! Happy savings!

How popular is it to switch mortgage?

Every year, more people switch to a long-term fixed rate, usually for savings. But most importantly because interest rates are on the rise and even though your repayment might be affordable now, by the time your fixed rate ends (if it already hasn’t). The rates will be much higher.

In Q1 2022, There were 9,910 drawdowns valuing €2.51 billion. Of which, 1,762 were switchers/re-mortgage (€462 million).Β 

In Q1 2021 there were 9,091 drawdowns valuing €2.14 billion. Of which, 1,380 were switchers/re-mortgage (€334 million).

This is a QoQ increase of 9.3% in drawdown value and also 9.3% in volume. In comparison, the increase YoY in volume is 27.7% and 38.6% in value. This tells us that more and more people are becoming aware of how easy it has become to switch mortgage providers.

mortgage switching 2021 vs 2022

Want to get started with your first mortgage? Need more advice?

Your Questions Answered

If the outstanding amount on your mortgage is less than €30,000, Irish lenders are unlikely to allow you to switch.

You must pass an assessment and qualify for your new mortgage, if your financial circumstances have changed, you will be assessed differently than your initial application.

You must have a good credit rating. A credit check will be carried out by the lender you choose to switch to. If you’ve had any difficulties on paying new loans or credit cards, this may make it difficult to switch mortgage.

You cannot be in negative equity. This will be assessed on a case to case basis when switching.

To switch your mortgage to another lender, you don’t need to have a deposit.

With a fixed rate mortgage, your interest rate and monthly repayments are fixed for a set time as agreed between you and the lender.

Variable rates allow you to increase your re-payments, you can also use a lump sum to pay off all or part of your mortgage, or re-mortgage without having to pay any fixed rate breaking fees. However, variable rates can rise and fall meaning your mortgage repayments can go up or down during your Mortgage term.

If you want to switch mortgage and your fixed rate hasn’t ended yet, you may be charged a penalty fee for switching. Some people choose to wait until their fixed term has ended, but the fee that’s charged is usually much less than the possible savings.

With interest rates currently rising, by the time your fixed term ends – you might not get as good of a deal when you want to switch. Overall this makes it more worthwhile to switch now.

This is a percentage figure which represents the difference between your mortgage loan and the value of your property. For example if your mortgage is €100,000 on a property valued at €200,000, your LTV rate would be 50%.

LTI is your Loan to Income rate, generally you are allowed to borrow 3.5x your annual income before tax. Some exceptions may apply.

This is the amount you owe excluding costs and interest. This is also known as the “Principal” of your loan.

This is when you are given an indication of approval from our first discussion with you, without having to see any documentation. This is not guaranteed approval.

The date the mortgage must be repaid in full, or by which a new agreement needs to be taken out.

There is no real ‘best time to switch’. Certain factors can slow down the process with lenders, such as how busy they are (Earlier in the year is usually faster). Also if your mortgage is more than 3.5x your salary, you will need an exemption (Central Bank) – In this case the earlier the better as there’s more excemptions available.

When considering switching Mortgage, December can be a particularly slow month as banks operate on reduced hours due to christmas. This makes January quite busy and can tend to slow things down.

This is a little bit of “how long is a piece of string?”. It depends on many factors such as your application, the lender and their requirements, solicitors. but in general around 6 weeks is an accurate estimate.

Since 2019, the Central bank of Ireland introduced new measures to make mortgage switching easier.

They introduced new measures that lenders have to now follow.

These measures mean that lenders must:

  • Tell you about cheaper mortgage options 60 days before you come out of a fixed rate mortgage
  • Tell you if you can switch to a cheaper mortgage based on how much equity is in your home
  • Clearly explain the pros and cons of any mortgage incentives such as cashback offers
  • Give you a comparison of how much your mortgage costs versus other options offered by your lender if you ask for one
  • GiveΒ you all the informationΒ you need to switch, including telling youΒ how long it will take
  • Give you a decision within ten business days of receiving a completed mortgage application

Source – Central Bank of Ireland

Warning: You may lose your home if you do not keep your repayments.

Warning: The cost of your monthly repayments may increase.Β 

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, limiting your ability to access credit in the future.Β 

Warning: The entire amount you have borrowed will still be outstanding at the end of the interest-only period. The lender may adjust the payment rates on this housing loan from time to time. (Applies to variable-rate loans only).

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We would like to assure our customers that although this Worldwide Pandemic has struck our Nation hard, we are still here for our new and existing customers. All phone calls and emails will be dealt with accordingly.

In the unfortunate circumstance that a customer contracts COVID-19 and dies, our life policies would pay out in line with our usual claims philosophy.

All Consultations will be held by Phone or Online via Computer/Smart Device to remove face-to-face interactions and keeping in line with social distancing guidelines recommended by the Government.

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