Homeowners paying more than €4,000 in extra mortgage repayments every year

A general view of houses in North Dublin as seen from the Etihad Skyline viewing platform at Croke Park Stadium, Dublin (Niall Carson/PA)

Homeowners can be needlessly paying an average €4,097 in extra mortgage repayments per year by not switching lenders, new research has found.

This is an increase of €657 over the past 12 months with a monthly saving of up to €135 for every €100,000 owed on a 25-year mortgage for those who do switch.