The Irish Mortgage Holders' Organisation has called for a drop in mortgage interest rates, saying it would be of more benefit than cash incentives.
The group was set up to facilitate resolutions between mortgage holder and lenders.
Some lenders are offering customers cash incentives to prompt them to take out mortgages with the respective banks.
However David Hall, founder and CEO of the mortgage holders' organisation, said a reduction in interest rates would be more beneficial.
"The battle we want to see is on interest rates," he said. "We're still probably 1.8% to 2% higher than our European colleagues, and many will give various reasons why that is the case, but the reality is there's little competition.
"No other external banks came in to the market offer mortgages."