Homeowners could save an average of 3,400 euro a year by switching mortgage lenders.
That’s a rise of almost 900 euro compared to last year, according to the Irish independent.
Homeowners are losing thousands of euro a year by failing to switch mortgage lenders.
The Irish Independent Mortgage Switcher Index has calculated the potential savings and found that the gap between current rates has grown by 2.2 percent.
This equals to average savings of 281 euro a month or 3,400 euro a year.
Earlier this year the Central Bank introduced new rules to make it easier for customers to switch mortgage providers.
But Daragh Cassidy from price comparison website bonkers.ie says people are still sticking with the same bank:
Eligible home owners are being advised to check with their bank for a lower rate or consider switching.