Mortgage holders could save €37,000

CONSUMERS are being urged to shop around when it comes to mortgages — amid claims first-time house buyers could save €37,000 by doing so.

New research comparing mortgage products from the eight leading mortgage providers in the market — undertaken by independent mortgage broker Simply Mortgages — is based on a €227,000 loan on a house valued at €320,000 over a variety of different terms.

The potential saving of €37,000 arises if the difference between the best and worst tracker rates were maintained for the duration of a 30-year term.