Mortgage switching by homeowners at quarter of boom levels despite €10k saving potential

The number of homeowners switching their mortgages remains at a quarter of what it was at the peak of the boom, according to the Association of Irish Mortgage Advisors.

AIMA, the mortgage broker representative body, said the vast majority of the 150,000-200,000 mortgage holders on standard variable rates are overpaying by hundreds, if not thousands, of euro each year.