Shopping around could save you €100,000 on a mortgage

SHOPPING around for the best interest rate could save you more than €100,000 over the lifetime of an average mortgage, figures produced by the State’s financial watchdog showed yesterday.

The Irish Financial Services Regulatory Authority (IFSRA) also said comparing rates for car loans, credit cards and personal loans could result in significantly reduced repayments.

The findings come as economists predict a 1.5% rise in interest rates here over the next 18 months. This follows an interest rate hike in the US the first in four years.