A mortgage is one of the biggest financial undertakings you are likely to take in your lifetime so it is important to ensure you have the best deal available and a loan repayment option that is manageable. If you are struggling with mortgage repayments, want to save money, borrow more money or searching for a better rate, one option available to you is remortgaging.
Remortgaging means switching your mortgage to a different deal, whether that be with your current lender or a new one and using the new deal to pay off your existing mortgage. According to the Central Bank of Ireland, 1 in 5 people could save by switching their mortgage.
The Central Bank of Ireland have also introduced new measures to make switching mortgage easier. Changes to the 2012 Consumer Protection Code have been made to help consumers make more savings on their mortgage repayments, provide additional protections to those eligible to switch and facilitate mortgage switching through enhancing the transparency of the mortgage framework. These changes came into effect on the 1st January 2019.
By using a conveyancing solicitor for this process, you will have peace of mind that all details have been accounted for while ensuring that your remortgage goes ahead smoothly and efficiently.
If you have decided to switch mortgage, contact Gerard Cochrane & Co. Solicitors today to help you through the process.