Consumer Corner: How to manage your mortgage now to save money

There was a surge of mortgage switching in 2022 which saw the highest volume of mortgage switching on record.

For most people their biggest monthly outgoing is their mortgage payment. That is why it deserves our attention. Following a decade of low rates we have now entered a new cycle of rate increases with many mortgage holders experiencing rate increases for the first time.

Martina Hennessy, managing director of consumer website Doddl.ie said that 2023 should be the year that we take control and make smart decisions when it comes to our mortgage. Many homeowners, she said, are needlessly paying an average €3,857 in extra mortgage repayments per year by not switching lenders.