Making Cents: Switch your mortgage to avail of great savings

For those of us not lucky enough to be on a tracker mortgage, there has been some good news in the last couple of month, with many of the main providers reducing either fixed or variable rates, writes Grainne McGuinness. 

Bonkers.ie head of communications Mark Whelan, said recently: “There is finally some healthy competition entering the Irish mortgage market, which is good news.”

However, although variable rate customers will benefit immediately from any price increase from their own banks, many could still get better rates elsewhere. So what is the advice from experts? You guessed it, it is to switch. This is despite the fact that consumers are notoriously slow to switch providers, particularly for a complex product like a mortgage.