How much can I save by switching my mortgage in Ireland?

The savings from switching depend on the difference between your current rate and the new rate, your outstanding balance, and remaining term. A 0.5% rate reduction on a €250,000 mortgage with 20 years remaining saves approximately €65 per month or €15,600 over the remaining term.

What does it cost to switch mortgage in Ireland?

Switching costs typically include solicitor/legal fees (€1,500-€2,500), a valuation fee (€150-€250), and potentially a breakage fee if you're on a fixed rate. Some lenders like Haven offer to cover your legal fees. Many lenders also offer cashback of 2-3% which can offset switching costs.

Do I have to pay a breakage fee to switch mortgage?

Only if you're currently on a fixed rate. If you're on a variable rate, there's no breakage fee. Many lenders including AIB have reduced breakage fees significantly — in some cases to zero. Always request a breakage quote from your current lender before deciding.

Mortgage Switching Calculator Ireland 2026

Your Current Mortgage

Outstanding Mortgage Balance

€

Current Interest Rate

Check your most recent mortgage statement

Years Remaining on Mortgage

Current Rate Type

New Mortgage Details

New Interest Rate You've Been Offered

Best rates in Ireland currently from ~3.15% (green/high-value) to ~3.70%

Cashback Offered by New Lender

Estimated Switching Legal Fees

Your Switching Analysis

See exactly how much you'd save by switching — monthly, annually, and over the full remaining term. We'll factor in all costs.

Should You Switch Your Mortgage in Ireland?

With Irish mortgage rates stabilising around 3.5% for new business and many existing borrowers still on rates above 4%, switching could save thousands. The Competition and Consumer Protection Commission (CCPC) estimates that a typical switcher saves over €10,000 over the life of their mortgage.

When Switching Makes Sense

Switching is usually worthwhile if the rate difference is 0.3% or more, your outstanding balance is above €100,000, and you have more than 10 years remaining. The bigger each of those numbers, the more you save. Even after factoring in legal fees (€1,500–€2,500) and a potential breakage fee, most switchers are in profit within 12–18 months.

Green Mortgage Discounts

If your home has a BER rating of B3 or better, you may qualify for a green mortgage rate — typically 0.1%–0.2% lower than standard rates. If your BER isn't high enough, upgrading with SEAI grants could qualify you. Check your grant eligibility or get a BER assessment.

The Switching Process

Switching typically takes 8–12 weeks. You'll need a new valuation, updated payslips and bank statements, and a solicitor to handle the legal transfer. Some lenders like Haven and PTSB cover legal fees or offer cashback to offset costs. A mortgage broker can manage the process and compare all available rates for free.

How Much Could You Save
by Switching Your Mortgage?