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 1445 reviews
Emma W.
Emma W.
Great experience with Ross who was patient with us as we figured out what plan worked best for us. We really appreciated his advice and his patience. Highly recommend.
Jonathan F.
Jonathan F.
Dealt with Ross, he was incredibly helpful and informative and made the process easy from the start.
Dee H.
Dee H.
Rebecca was wonderful. And got a policy I was very happy with
Response from the owner: Hey Dee,We’re delighted to hear about your positive experience with Rebecca. It’s great to know she was wonderful and helped secure a policy you’re happy with. We always aim to match our clients with the best possible cover, so your feedback is much appreciated!If you ever need anything else or have any questions, feel free to get in touch.Best Regards,LowQuotes Team
Ann D.
Ann D.
Excellent communication. Explained everything very clearly. Lovely customer service
Response from the owner: Hey Ann,We’re delighted to hear about your positive experience with our team. It’s great to know everything was explained clearly and that you received excellent communication and lovely customer service, that’s exactly what we aim for!If you have any questions in the future or need further assistance, we’re just a message away.Best Regards,LowQuotes Team
John K
John K
I have had a very rewarding experience dealing with Low Quotes. Rebecca Sharpe was my point of contact, and she was always prompt, professional and helpful. Vast knowledge of the business and the options to me to get me the best life cover policy, as well as answer my never ending questions and concerns. The process was effortless. Thanks JK
Response from the owner: Hey John,We’re thrilled to hear about your rewarding experience with Rebecca! It’s fantastic to know she was prompt, professional, and able to guide you through the process with such expertise. Life Insurance can raise lots of questions, and we’re so glad she made it effortless for you.If you need anything else down the line, don’t hesitate to reach out.Best Regards,LowQuotes Team
Sandra W.
Sandra W.
Shaun was very informative and helpful
Response from the owner: Hey Sandra,We’re delighted to hear about your positive experience with Shaun. It’s great to know he was informative and helpful throughout the process. We aim to make everything as clear and straightforward 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
GrΓ‘inne M.
GrΓ‘inne M.
I would like highly recommend Bernadine and Low Quotes for anyone seeking professional mortgage assistance. From start to finish, our experience working with Bernadine was exceptional. We recently secured our mortgage through her, and I can confidently say that her advice, skills, and expertise were outstanding and made a significant difference in the entire process. Bernadine demonstrated an in-depth understanding of the mortgage market, guiding us through complex options with clarity and patience.Her professionalism and attention to detail ensured that everything was handled efficiently and smoothly, which made what can often be a stressful process much more manageable and even enjoyable. Bernadine’s efficiency was second to none; she was always prompt, organized, and proactive in communicating updates and answering our questions. Thanks to her, we were able to secure a mortgage that we are really happy with, and she worked tirelessly to find us the best possible deal.We are genuinely grateful for the time and effort she invested in helping us. Her friendly yet professional approach made us feel valued and supported throughout the entire process. I would highly recommend Bernadine and Low Quotes to anyone looking for expert mortgage advice and exceptional service. Her dedication and expertise truly set her apart, and we are so appreciative of all she did for us.
Response from the owner: Hey GrΓ‘inne,Thank you so much for your incredibly kind and detailed review! We’re absolutely delighted to hear about your positive experience with Bernadine. Her expertise, dedication, and genuine care truly make a difference, and we’re so glad she helped make your mortgage journey smooth and even enjoyable.Securing the right mortgage can be a stressful process, so it’s fantastic to know Bernadine guided you through it with such clarity and professionalism. We’ll be sure to pass along your lovely feedback to her, she’ll be thrilled!If you need any further support down the line, we’re always here for you.Best Regards,LowQuotes Team
G S (.
G S (.
Quick, easy, straightforward, concise and helpful. If you are considering life insurance, give Colin a call.
Response from the owner: Hey G S,We’re delighted to hear about your positive experience with Colin. It’s great to know you found the process quick, easy, and helpful. We aim to make life insurance as straightforward and stress-free as possible, so your feedback means a lot! If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Shane C.
Shane C.
Would just like to say a massive thanks to Bernadine who helped me and my fiancΓ© get our mortgage protection, the whole process was quick and easy. Will definitely recommend to friends and family.A true professionalThanks again Bernadine
Response from the owner: Hey Shane,We’re delighted to hear about your positive experience with Bernadine. It’s great to know she made the process of getting mortgage protection quick and easy for you and your fiancΓ©. We aim to make everything as smooth and straightforward as possible, so your kind words mean a lot! If you or your friends and family need any assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
yasmine B.
yasmine B.
The biggest thanks to Bernadine. She made the process of getting our mortgage protection so easy and stress free. Will definitely be recommending to others.
Response from the owner: Hey Yasmine,We’re delighted to hear about your positive experience with Bernadine. It’s great to know she made the process of getting your mortgage protection easy and stress-free. We aim to make everything as smooth and understandable as possible, so your recommendation means a lot! If you or anyone you know needs assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Malcolm C.
Malcolm C.
I was dealing with Rebecca today and she was a star. It was like talking to a friend over the phone, very clear with instructions and no hesitation when I needed something explained. Exceptional service!
Response from the owner: Hey Malcolm,We’re delighted to hear about your positive experience with Rebecca. It’s great to know she made the process feel so comfortable and explained everything clearly. We aim to provide exceptional service and ensure everything is easy to understand, 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
maureen A.
maureen A.
Colin was a great advisor. Clear and easy to understand. Cheaper and better cover than I expected
Response from the owner: Hey Maureen,We’re delighted to hear about your positive experience with Colin. It’s great to know he was able to explain everything clearly and secure a better cover than you expected. 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
Breda C.
Breda C.
Shaun Young provided an excellent service and guided me through picking a suitable health insurance plan for my needs.Highly RecommendedBreda Crowley
Response from the owner: Hey Breda,We’re delighted to hear about your positive experience with Shaun. It’s great to know he was able to guide you through choosing the right health insurance plan for your needs. 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
Marzena C
Marzena C
I had a pleasure to deal with Rebecca ,she was very professional, kind and helpful. She answered all the questions I had and offered me a good deal. I was very happy with everything.
Response from the owner: Hey Marzena,We’re delighted to hear about your positive experience with Rebecca. It’s great to know she was professional, kind, and helpful throughout the process and was able to offer you a great deal. We aim to make everything as clear and smooth as possible, so we’re thrilled to hear you were happy with the service.If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
dee F.
dee F.
Thanks so much to Dylan Cadwell who was a fantastic help to me today. He hand held me through the process of picking a new policy, he explained everything I needed to know and then when I was happy with the policy he had all my documents ready to sign within the hour. I would definitely recommend Dylan .
Response from the owner: Hey Dee,We’re delighted to hear about your positive experience with Dylan. It’s great to know he was able to explain everything clearly, guide you through the process, and get your documents ready so efficiently. We aim to make the journey as smooth and supportive as possible, so your feedback really means a lot!If you have any further questions or need assistance in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Zahia H.
Zahia H.
I recently completed the purchase of my new home and just picked up the keys today! I couldn’t have done it without the incredible support of Bernadine.From start to finish, she made the mortgage process smooth and stress-free. Always professional, responsive, and clear in her communication, she helped me navigate every step with confidence. I truly appreciated her patience and guidance throughout.Highly recommend their services to anyone looking for expert mortgage advice and outstanding support!
Response from the owner: Hey Zahia,We’re delighted to hear about your positive experience with Bernadine – and huge congratulations on your new home! 🎉 It’s great to know she was able to support you every step of the way and make the mortgage journey smooth and stress-free.We always aim to provide clear, professional guidance, so your feedback means the world to us. If you ever need anything in the future, we’re just a call away.Best Regards,LowQuotes Team
Daniel K.
Daniel K.
Neil O' Brien recently guided me through the process of securing mortgage protection and couldn't have made it any more straightforward.Neil was friendly, knowledgeable and meticulous in the dealings that I had with him. I was impressed with how responsive Neil was with any follow up queries that I had.I would highly recommend Neil and Low Quotes to any person organising mortgage protection and other forms of life insurance based on the positive experience I have had.
Response from the owner: Hey Daniel,We’re delighted to hear about your positive experience with Neil. It’s great to know he was able to guide you through the mortgage protection process with such clarity and attention to detail. We aim to make every step as smooth and straightforward as possible, so your kind words mean 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
Harry M.
Harry M.
I took out an Income Protection policy this week, great service from start to finish, Cormac was very professional and was able to get me a good quote quickly having offered me advice on which company would be best for me
Response from the owner: Hey Harry,We’re delighted to hear about your positive experience with Cormac. It’s great to know he was able to offer you clear advice and secure a good quote for your Income Protection policy so quickly. We aim to make the process smooth and straightforward, so your feedback really means a lot to us! If you have any questions or need help in the future, don’t hesitate to reach out.Best Regards,LowQuotes Team
Kathleen S.
Kathleen S.
Shaun was very helpful and very easy to talk to and explained everything very well
Response from the owner: Hey Kathleen,We’re delighted to hear about your positive experience with Shaun. It’s great to know he was able to explain everything clearly and make the process easy to follow. We aim to keep things simple and understandable for everyone, so your feedback means a lot to us! If you have any further questions or need assistance down the line, don’t hesitate to reach out.Best Regards,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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Career opportunities at LowQuotes.

Here at LowQuotes, we want to ensure that our clients receive the highest standards of service.Β  If you have a passion for connecting with people and aspire to thrive in a culture built on trust, integrity, dedication, and excellence, this could be the perfect fit.Β 

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Coronavirus Covid 19 Information

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.

We at Lowquotes.ie hope you, your family and your loved ones stay safe & healthy in this time.