Mortgage Advisory group predict spike in mortgage switching applications

The volume of people applying to switch their mortgage for a better deal will increase by 20% or more over the next 4-6 weeks, according to a pfrediction by the Association of Irish Mortgage Advisors.

The AIMA said that while thousands of would-be home buyers all over the country are desperately calling mortgage brokers and banks, wondering as to the status of their mortgage application or home purchase, a separate cohort of existing homeowners are making similar calls, to see if they can make some savings on their mortgage repayments by switching rates and/or lenders.