Compare switcher mortgage deals in Ireland

Switching your mortgage could help to reduce your repayments and save you thousands in interest. Compare remortgage deals and find the right switcher mortgage for you.

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You have a 57.1% loan to value (LTV)
We found 57 results for you
Sorted by monthly payment
Green 4 Year Fixed Rate
3.65%
4 Year Fixed rate
80.0%
Max LTV
€1,175.39
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3. T&Cs apply.
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Green 5 Year Fixed
3.75%
5 Year Fixed rate
80%
Max LTV
€1,185.78
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3. T&Cs apply.
Green 4 Year Fixed
3.75%
4 Year Fixed rate
80.0%
Max LTV
€1,185.78
Monthly payment
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3. T&Cs apply.
€2000 Cashbacki
Receive €2000 cash if you’re a Switcher and drawdown on the EBS Green 4 Year Fixed Rate Mortgage between 10 March 2023 and 31 December 2024. The EBS Green 4 Year Fixed Rate Mortgage Switcher offer of €2000 is specifically for customers who have a mortgage with another lender and switch to take out the EBS Green 4 Year Fixed Rate Mortgage. The €2000 shall be paid into the switcher customer's account within 60 days of drawing down on the EBS Green 4 Year Fixed Rate Mortgage. T&Cs apply.
3 Year Fixed
3.85%
3 Year Fixed rate
60%
Max LTV
€1,196.21
Monthly payment
€2,000 when you switch to Avant Moneyi
Offer only available in respect of the Avant Money One Mortgage product or Fixed term rate products (3, 4, 5, 7 or 10 year fixed). Personal Dwelling House only. Offer available only to customers switching their mortgage from another lender. Your new Avant Money mortgage must be at least €100,000. Drawdown of the mortgage must be completed between 2nd January 2024 and 15th March 2024. We will pay €2,000 within two (2) months after your first mortgage repayment. Over 18s only. Avantcard DAC trading as Avant Money is regulated by the Central Bank of Ireland
4 Year Fixed
3.95%
4 Year Fixed rate
60%
Max LTV
€1,206.70
Monthly payment
€2,000 when you switch to Avant Moneyi
Offer only available in respect of the Avant Money One Mortgage product or Fixed term rate products (3, 4, 5, 7 or 10 year fixed). Personal Dwelling House only. Offer available only to customers switching their mortgage from another lender. Your new Avant Money mortgage must be at least €100,000. Drawdown of the mortgage must be completed between 2nd January 2024 and 15th March 2024. We will pay €2,000 within two (2) months after your first mortgage repayment. Over 18s only. Avantcard DAC trading as Avant Money is regulated by the Central Bank of Ireland
5 Year Fixed
3.95%
5 Year Fixed rate
60%
Max LTV
€1,206.70
Monthly payment
€2,000 when you switch to Avant Moneyi
Offer only available in respect of the Avant Money One Mortgage product or Fixed term rate products (3, 4, 5, 7 or 10 year fixed). Personal Dwelling House only. Offer available only to customers switching their mortgage from another lender. Your new Avant Money mortgage must be at least €100,000. Drawdown of the mortgage must be completed between 2nd January 2024 and 15th March 2024. We will pay €2,000 within two (2) months after your first mortgage repayment. Over 18s only. Avantcard DAC trading as Avant Money is regulated by the Central Bank of Ireland
7 Year Fixed
3.95%
7 Year Fixed rate
60%
Max LTV
€1,206.70
Monthly payment
€2,000 when you switch to Avant Moneyi
Offer only available in respect of the Avant Money One Mortgage product or Fixed term rate products (3, 4, 5, 7 or 10 year fixed). Personal Dwelling House only. Offer available only to customers switching their mortgage from another lender. Your new Avant Money mortgage must be at least €100,000. Drawdown of the mortgage must be completed between 2nd January 2024 and 15th March 2024. We will pay €2,000 within two (2) months after your first mortgage repayment. Over 18s only. Avantcard DAC trading as Avant Money is regulated by the Central Bank of Ireland
10 Year Fixed
3.95%
10 Year Fixed rate
60%
Max LTV
€1,206.70
Monthly payment
€2,000 when you switch to Avant Moneyi
Offer only available in respect of the Avant Money One Mortgage product or Fixed term rate products (3, 4, 5, 7 or 10 year fixed). Personal Dwelling House only. Offer available only to customers switching their mortgage from another lender. Your new Avant Money mortgage must be at least €100,000. Drawdown of the mortgage must be completed between 2nd January 2024 and 15th March 2024. We will pay €2,000 within two (2) months after your first mortgage repayment. Over 18s only. Avantcard DAC trading as Avant Money is regulated by the Central Bank of Ireland
Variable
3.95%
Variable rate
80%
Max LTV
€1,206.70
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
One Mortgage - up to 20 Years Fixed
3.95%
20 Year Fixed rate
60%
Max LTV
€1,206.70
Monthly payment
€2,000 when you switch to Avant Moneyi
Offer only available in respect of the Avant Money One Mortgage product or Fixed term rate products (3, 4, 5, 7 or 10 year fixed). Personal Dwelling House only. Offer available only to customers switching their mortgage from another lender. Your new Avant Money mortgage must be at least €100,000. Drawdown of the mortgage must be completed between 2nd January 2024 and 15th March 2024. We will pay €2,000 within two (2) months after your first mortgage repayment. Over 18s only. Avantcard DAC trading as Avant Money is regulated by the Central Bank of Ireland
Variable
3.95%
Variable rate
80%
Max LTV
€1,206.70
Monthly payment
Variable
3.95%
Variable rate
80%
Max LTV
€1,206.70
Monthly payment
4 Year Fixed
4.0%
4 Year Fixed rate
60%
Max LTV
€1,211.96
Monthly payment
Variable
4.15%
Variable rate
60%
Max LTV
€1,227.83
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green 5 Year Fixed
4.15%
5 Year Fixed rate
60%
Max LTV
€1,227.83
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval on or before 31st March 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3. T&Cs apply.
Green 1 Year Fixed
4.35%
1 Year Fixed rate
60%
Max LTV
€1,249.16
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3 when you draw down your new mortgage loan prior to 31st December 2024. T&Cs apply.
Green 2 Year Fixed
4.35%
2 Year Fixed rate
60%
Max LTV
€1,249.16
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3 when you draw down your new mortgage loan prior to 31st December 2024. T&Cs apply.
Variable
4.4%
Variable rate
60%
Max LTV
€1,254.53
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval on or before 31st March 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. T&Cs apply.
Green 5 Year Fixed
4.45%
5 Year Fixed rate
60%
Max LTV
€1,259.91
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3 when you draw down your new mortgage loan prior to 31st December 2024. T&Cs apply.
Green 3 Year Fixed
4.45%
3 Year Fixed rate
60%
Max LTV
€1,259.91
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3 when you draw down your new mortgage loan prior to 31st December 2024. T&Cs apply.
1 Year Fixed
4.55%
1 Year Fixed rate
80%
Max LTV
€1,270.70
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
1 Year Fixed
4.55%
1 Year Fixed rate
80.0%
Max LTV
€1,270.70
Monthly payment
1 Year Fixed
4.55%
1 Year Fixed rate
80.0%
Max LTV
€1,270.70
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
2 Year Fixed
4.6%
2 Year Fixed rate
80%
Max LTV
€1,276.12
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
2 Year Fixed
4.65%
2 Year Fixed rate
80.0%
Max LTV
€1,281.55
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
1 Year Fixed
4.65%
1 Year Fixed rate
60%
Max LTV
€1,281.55
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
2 Year Fixed
4.65%
2 Year Fixed rate
60%
Max LTV
€1,281.55
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
3 Year Fixed
4.7%
3 Year Fixed rate
80%
Max LTV
€1,286.99
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
4 Year Fixed
4.75%
4 Year Fixed rate
80%
Max LTV
€1,292.45
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
3 Year Fixed
4.75%
3 Year Fixed rate
80.0%
Max LTV
€1,292.45
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
2 Year Fixed
4.75%
2 Year Fixed rate
60%
Max LTV
€1,292.45
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval on or before 31st March 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. T&Cs apply.
3 Year Fixed
4.75%
3 Year Fixed rate
60%
Max LTV
€1,292.45
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval on or before 31st March 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. T&Cs apply.
3 Year Fixed
4.75%
3 Year Fixed rate
60%
Max LTV
€1,292.45
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green 10 Year Fixed
4.75%
10 Year Fixed rate
60%
Max LTV
€1,292.45
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
Green Mortgagei
Available for Building Energy Rating (BER) between A1 and B3 when you draw down your new mortgage loan prior to 31st December 2024. T&Cs apply.
5 Year Fixed
4.75%
5 Year Fixed rate
60%
Max LTV
€1,292.45
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
5 Year Fixed
4.8%
5 Year Fixed rate
80%
Max LTV
€1,297.91
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
5 Year Fixed
4.85%
5 Year Fixed rate
80.0%
Max LTV
€1,303.40
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
5 Year Fixed
4.85%
5 Year Fixed rate
60%
Max LTV
€1,303.40
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval on or before 31st March 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. T&Cs apply.
7 Year Fixed
4.85%
7 Year Fixed rate
60%
Max LTV
€1,303.40
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval on or before 31st March 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. T&Cs apply.
2 Year Fixed
4.9%
2 Year Fixed rate
80.0%
Max LTV
€1,308.89
Monthly payment
Up to 3% Cashbacki
EBS is offering home buyers up to 3% Back in Cash. Get 2% upfront and 1% in 5 years (subject to meeting the terms of the mortgage) of the value of your new mortgage if you are a first time buyer, mover, or switching your mortgage to EBS. T&Cs apply.
3 Year Fixed
5.0%
3 Year Fixed rate
80.0%
Max LTV
€1,319.91
Monthly payment
Up to 3% Cashbacki
EBS is offering home buyers up to 3% Back in Cash. Get 2% upfront and 1% in 5 years (subject to meeting the terms of the mortgage) of the value of your new mortgage if you are a first time buyer, mover, or switching your mortgage to EBS. T&Cs apply.
7 Year Fixed
5.05%
7 Year Fixed rate
80%
Max LTV
€1,325.44
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
7 Year Fixed
5.05%
7 Year Fixed rate
80.0%
Max LTV
€1,325.44
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
10 Year Fixed
5.05%
10 Year Fixed rate
60%
Max LTV
€1,325.44
Monthly payment
Up to 3% Cashbacki
First Time Buyers, Movers and Switchers can receive 2% of your new mortgage back as cash upfront. Plus an additional 1% in 5 years, subject to meeting the conditions of the mortgage. You must drawdown your new mortgage between 5th September 2016 and 31st December 2024. T&Cs apply.
5 Year Fixed
5.1%
5 Year Fixed rate
80.0%
Max LTV
€1,330.98
Monthly payment
Up to 3% Cashbacki
EBS is offering home buyers up to 3% Back in Cash. Get 2% upfront and 1% in 5 years (subject to meeting the terms of the mortgage) of the value of your new mortgage if you are a first time buyer, mover, or switching your mortgage to EBS. T&Cs apply.
10 Year Fixed
5.15%
10 Year Fixed rate
80.0%
Max LTV
€1,336.54
Monthly payment
€2,000 towards legal costs. T&Cs apply.i
Customers who switch their mortgage to Haven and take the Haven Green 4 Year Fixed Rate Mortgage will receive a €2,000 cash offer towards legal costs. T&Cs apply.
10 Year Fixed
5.2%
10 Year Fixed rate
80%
Max LTV
€1,342.11
Monthly payment
€2,000 when you switch to AIBi
For mortgage switchers only, €2,000 paid straight into the current account you use to pay your mortgage within two months of switching, even if that current account is with another bank. T&Cs apply.
Progress 7 Year Fixed
5.35%
7 Year Fixed rate
60%
Max LTV
€1,358.89
Monthly payment
5 Year Fixed
5.5%
5 Year Fixed rate
60%
Max LTV
€1,375.77
Monthly payment
Progress 5 Year Fixed
5.55%
5 Year Fixed rate
60%
Max LTV
€1,381.43
Monthly payment
3 Year Fixed
5.75%
3 Year Fixed rate
60%
Max LTV
€1,404.17
Monthly payment
Progress 3 Year Fixed
5.75%
3 Year Fixed rate
60%
Max LTV
€1,404.17
Monthly payment
Variable
6.25%
Variable rate
60%
Max LTV
€1,461.86
Monthly payment
Progress Plus 5 Year Fixed
6.6%
5 Year Fixed rate
60%
Max LTV
€1,502.94
Monthly payment
Progress Plus 3 Year Fixed
6.7%
3 Year Fixed rate
60%
Max LTV
€1,514.79
Monthly payment
Progress Variable
6.95%
Variable rate
60%
Max LTV
€1,544.60
Monthly payment
Progress Plus Variable
7.25%
Variable rate
60%
Max LTV
€1,580.75
Monthly payment
* Indicative APRC (Annual Percentage Rate of Charge): calculations are based on a typical mortgage of €100,000 over a 20 year term.
LatestMortgage interest rates

The European Central Bank (ECB) sets interest rates for the euro area every six weeks.

As of 26 October, the latest headline rate is 4.50%, the highest rate since 2000.

When the ECB rate changes, your lender may adjust your mortgage rate if you’re on a variable rate but is under no obligation. Those on tracker mortgages may feel the impact of changes immediately.

If you have a fixed rate mortgage, the interest rate will stay the same until your deal ends.

Source: European Central Bank, Key ECB interest rates


What is a switcher mortgage?

A switcher mortgage is when you take out a new mortgage with another lender or your current mortgage provider, usually at a lower interest rate.

It’s also known as remortgaging and can provide additional borrowing funds, a shorter borrowing term, or a lower monthly interest rate.

You can remortgage your home with a new lender or arrange a new mortgage deal with your existing provider.

How much can you save by remortgaging?

It depends on your existing rate and the size of your mortgage but savings made by homeowners switching their mortgage has doubled in the past six months according to the latest doddl.ie Mortgage Switching Index.

Householders could be overpaying by up to €7,000 per year by not switching lenders, doddl.ie claims. As residential mortgage rates surpass 7%, you could save thousands of euros if you switch your mortgage to the lowest rate.

When is the best time to switch mortgage?

The right time to switch will depend on your reason for remortgaging and whether you’ll make a significant saving.

If you have a fixed rate mortgage, you may be able to lock in another rate a few months in advance of your term ending, but don’t switch until it’s penalty-free.

With a variable rate mortgage you’re not tied in, so you can remortgage at any time. You should keep an eye on rates and consider switching mortgages when they’re lower.

It’s worth looking for a mortgage well before your current fixed rate deal ends, or you risk spending time on the lender’s standard variable rate, which will be expensive.

To recap:

  • Fixed rate mortgage: you’ll need to wait until the term ends or pay an early repayment charge (ERC) to your existing mortgage provider, but start your search before your terms ends
  • Variable rate mortgage: you can switch mortgages at any time without penalty but double-check there are no exit fees

How to compare switcher mortgages

Our switcher mortgage search can help you compare deals and find the right one.

Whether you’re remortgaging to reduce your repayments, consolidate debt, or buy an investment property, it helps to compare offers across different lenders. If you only compare mortgages with your current lender, you could miss out on a much better deal with another lender.

Before you start, make sure you know:

  • How much you owe on your current mortgage: Do you want to borrow more or reduce your balance? To increase your loan, you’ll need to check how much you can borrow.
  • What your remaining mortgage term is: Do you want to keep it the same or change it? Increasing the term will lower your repayments but cost you more overall. Decreasing the term will increase your repayments but you’ll pay off the loan quicker.
  • What your loan to value (LTV) is: You’ll need to get an up to date valuation to work out your LTV. The more equity you have, the lower your LTV, and the cheaper the rates you can get.
  • When you can remortgage without penalty: Avoid remortgaging if you’re tied into a fixed rate deal as you’ll have to pay a hefty early repayment charge. If possible, wait until the term ends when it’s penalty-free.

What is loan to value (LTV?)

LTV is how the size of the loan compares to the property’s overall value.

So if the house you want to buy costs €300,000 and you need to borrow €255,000, you’ll have an LTV of 85%.

What does equity mean?

It’s the difference between your outstanding mortgage balance and what the property is worth.

For example, if you have a mortgage of €150,000 and the value of your property is €300,000, you have €150,000 equity. This also means your loan to value (LTV) is 50% because you owe half of what the property is worth.

What is negative equity?

This is where your mortgage balance is higher than the value of your property.

For example, if you have a €250,000 mortgage and the value of your property plummets to €220,000, you have €30,000 of negative equity.

Being in negative equity can make it harder to remortgage your property.

How much can you borrow when you remortgage?

Lenders still need to check your affordability even if you don’t want to increase your mortgage.

Affordability is based on things like your income and outgoings, which may have changed since you previously applied for a mortgage.

Here are some things that can affect how much you can borrow.

  • Your loan to value (LTV)
  • Your loan to income (LTI)
  • How much equity you have
  • Your credit rating
  • Your outgoings

To find out exactly how much you can remortgage contact a mortgage broker (mortgage credit intermediary) or talk directly to your lender.

If you choose to switch lenders, you’ll need to apply for a mortgage in principle and then complete a mortgage application in full.

Switching will involve paying for a valuation of your property and solicitor’s fees, so you’ll need to ensure you save more overall. Find out more in our guide to switching mortgages.

How to use a switcher mortgage calculator

You just need to provide the property value, the mortgage amount and the repayment term.

Once you input your details, an online mortgage switcher calculator will show you how much your monthly mortgage payments could be from Ireland’s mortgage lenders and switcher mortgage deals based on your circumstances.


How much you can borrow

Can you remortgage to release equity?

Remortgaging to release equity means increasing your current mortgage and using the extra funds for something else e.g. home improvements.

Whether you can do this depends on:

  • The loan to value (LTV)
  • How much equity is in the property
  • Creditworthiness
  • Affordability

Speak to a mortgage broker (mortgage credit intermediary) or lender to check eligibility and how much you can borrow.

How long does it take to remortgage?

It varies depending on the lender and your circumstances, but you should allow between four and ten weeks.

If you remortgage with your current lender, the process may be quicker because they already have your personal details and may not require further checks.

Do you always need a solicitor to switch mortgages?

It depends on whether you’re switching to another lender. If you are switching lenders, you are applying for a new mortgage so you’ll need a solicitor to:

  • Check and sign your mortgage offer letter
  • Draw down the new mortgage and pay off the old mortgage
  • Carry out searches on the new property (if you’re moving house)

Tips to get the best remortgage rates

Whatever your circumstances, plan ahead and make sure your credit record is in good shape.

Here’s what to consider to ensure you switch to the best mortgage and benefit from cheaper monthly repayments:

  • Know your LTV and only compare deals that match your loan to value rate.
  • Choose a low interest rate to reduce the interest you pay overall and keep your repayments down.
  • Pick the right type of mortgage: A fixed rate mortgage offers set payments, while a variable rate mortgage gives you greater flexibility.
  • Check the fees: Some lenders may charge an arrangement fee, while others don’t.
  • Consider a mortgage broker for advice: especially if you have bad credit or unique circumstances, but check if they charge a fee before committing.

Once you’ve chosen a mortgage offer, you can submit a request for free advice from a mortgage advisor who will guide you through the mortgage switching process from start to finish.

Popular questions

What is the difference between a switcher mortgage and remortgaging?

A switcher mortgage and remortgaging are essentially the same thing.

Although some people use the term remortgage to describe topping up their mortgage with their existing lender, and a switcher mortgage to describe moving their mortgage from one lender to another - both terms describe taking out a new mortgage on an existing property.

What documents will I need for remortgaging?

It depends on whether you’re switching to a new lender or sticking with your current provider, but you’ll likely need:

  • Photo ID like a driving licence
  • Proof of address
  • Three months of bank statements
  • Wage slips (3-6 months)
  • Evidence of any other income

Self-employed homeowners may need to provide accounts or other proof of income.

It is also worth accessing your credit record to check it’s up to date and accurate.

Why has my loan to value gone down?

If you have a repayment mortgage, you pay off the capital over time, which increases the percentage of your home you own.

This reduces your loan to value (LTV), which is good news when you remortgage, as having a lower LTV often means you can get a better interest rate.

Your LTV can also go down if the property’s value increases because you owe less in relation to what it’s worth.

Compare mortgage rates & deals

Find a range of first time buyer and home mover mortgage deals in Ireland using our comparison.

Warning: If you do not keep up your repayments you may lose your home. Warning: The cost of your monthly repayments may increase. 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, which may limit your ability to access credit in the future. Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period. The payment rates on this housing loan may be adjusted by the lender from time to time. (applies to variable rate loans only) Information provided and Interest rates quoted valid at 29/02/2024