Banks vie to lure homeowners with cash deals

HOMEOWNERS are being lured with deals offering them as much as €2,000 in cash to switch their mortgage to a rival bank.

Lenders are trying to outbid each other to win a slice of the lucrative €139.8bn owed in mortgages by Irish homeowners.

Banks like newcomer Halifax are offering discounted interest rates as well as €1,000 towards legal fees of switching a mortgage.