Friday 9 December 2016

Central Bank can push open door on switching

Published 14/04/2016 | 02:30

The Central Bank in Dublin
The Central Bank in Dublin

Do you want a cheque for €2,000 for little or nothing? It appears many homeowners do not - or simply don't want to take the simple steps necessary to save themselves this type of money.

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Research commissioned by the Competition and Consumer Protection Commission shows just 2pc of homeowners have switched their mortgage over the past five years. The same study shows savings of €2,000 a year can be achieved by families who manage to get a better variable mortgage rate.

The primary reasons for failing to switch are the complexities and difficulties surrounding the process.

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