Mortgage Switching 2026: How to Save €20,000+
If you're on a rate above 4% and haven't switched, you're likely overpaying by hundreds per month. Even a 0.5% reduction on a €280,000 mortgage saves over €20,000 in total interest. Here's a real switching scenario, every lender's rate, and the process from start to finish.
A Real Switching Example
| Detail | Current Mortgage | After Switch |
|---|---|---|
| Balance | €280,000 | €280,000 |
| Rate | 4.30% (variable) | 3.50% (3yr fix) |
| Monthly payment | €1,543 | €1,413 |
| Monthly saving | €130/month | |
| Total interest saved (remaining 23 years) | €21,400 | |
See your exact savings: Mortgage Switching Calculator
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The Switching Process
- Week 1–2: Compare rates with our rate comparison and apply to new lender
- Week 3–6: New lender assesses your application, orders valuation
- Week 7–8: Loan offer issued; appoint solicitor
- Week 9–12: Solicitor handles legal transfer; mortgage switches on closing day
Total time: typically 8–12 weeks. Switchers are exempt from Central Bank lending rules — no LTI test, which makes approval straightforward if your credit is clean.
Before switching, check your BER. Green mortgage rates (for BER B3+) offer a further 0.1–0.3% discount. A BER assessment from Homerating.ie could unlock an even better rate.