askpaul explains about how to switch your mortgage and save:

Hi there, so you have your existing mortgage in place and you’re thinking of switching. If you are looking at switching mortgages, you will need to be on a variable interest rate. If you’re on a fixed-rate, unfortunately, you won’t be able to switch because you’re going to have breakage fees or penalties and, with your fixed-rate, it might not make sense to do that. If you own a fixed-rate, make sure you put it in your diary for when your fixed-rate ends, and then contact us here at askpaul to see how we can help you.

If you are on a variable interest rate, then you may want to consider switching. The reason being that the European Central Bank (ECB) has raised interest rates across the Eurozone several times in the past year, which has a knock effect on the mortgage rates that lenders offer in Ireland. You may save money and have extra peace of mind if you fix your mortgage while the market continues to be this volatile.

So, what does a cheaper interest rate mean? It could mean 10s of 1000s of Euros in your pocket rather than the bank’s pocket. It’s really important that you switch. If you’re looking at switching your mortgage, please call as we have all the best interest rates. Please come and have a chat with us and we can take you through the figures. We look at your existing mortgage, what’s going on in the marketplace and be able to show you what we can save you on your mortgage.

Remortgage Application Tips

If you go for a remortgage application, you have to remember that you’re going for a new mortgage but it is not usually as stressful as the first time around. You still need to record paperwork which would be the following:

• Bank statements
• Credit card statements
• Loan statements
• Your payslips
• P60
• Salary share from your employer

But trust me, this is worth it as it could save you 10s of 1000s of Euros. The other thing to consider is that, in the marketplace at the moment, when you switch a mortgage, you need to have a solicitor in place so this is an added cost. Some other banks out there will give you a cashback, some will pay for your solicitor fees. So, you don’t really need to worry about that part and you should be able to do this where you ultimately save money and it doesn’t end up costing you money.

I hope this video helps. Please get in contact if you have a mortgage and you haven’t reviewed your interest rate recently. And as always, please share this video with people you may know.

Contact AskPaul today to switch your mortgage and save €’000s