Start here · 9 steps
Switching your mortgage in Ireland, in nine steps
Checked 21 Oct 2026the Central Bank's mortgage measures, Revenue's rules and the scheme operators' published terms.
Switching means moving your mortgage to a new lender, or to a new rate with your own. It is outside the Central Bank limits, so the income rules do not apply. These nine steps go from the date your fixed rate ends to the first repayment on the new rate, with the costs netted off against the cashback. Every figure is dated and sourced.
This journey assumes: You have a mortgage on the home you live in, and a fixed rate is ending or you think you are paying more than you need to.
Find out when your fixed rate ends, and set a reminder
Your loan offer or your annual statement gives the date. When the fixed period ends, most lenders move you to their variable rate unless you choose another. Set a reminder for 90 days before, so you have time to compare. Since 24 March 2026 your lender must also tell you what you could save on a lower rate it offers.
Ask your lender for the redemption figure and any breakage fee
The redemption figure is what it costs to clear the loan today. If you are still inside a fixed period there may be a breakage fee, worked out from the lender's cost of funds; the lender must give it in writing. If you are on a tracker (the ECB rate plus a margin), think hard before giving it up: most people keep them.
Compare the rates
The average new mortgage rate was 3.53% in August 2026, with fixed rates about 3.49% and variable about 4.16%. Compare every lender's switcher rate for your loan-to-value, sorted the way you choose, with the CCPC's official comparison beside it. Look past the headline rate at the cashback, its clawback, and the overpayment allowance.
Net off the costs against the savings
A switch costs a solicitor (€1,200 to €2,000 plus VAT), a valuation (about €185) and any breakage fee. Against that, many lenders pay cashback of 1% to 3% of the loan or a legal contribution of €1,000 to €2,000. Put both sides into the calculator to see what you save over the new fixed period.
Check whether a BER would unlock a green rate
Most lenders price a green rate below their standard rate for a home with a BER of B3 or better. If your BER is more than ten years old, or the home has been upgraded since, a new assessment by an assessor on SEAI's register may raise the rating. A new BER costs €225 to €400.
Apply: your own lender, a new lender, or a broker
You can ask your own lender for a lower rate (a rate switch, with no solicitor needed), apply to a new lender yourself, or use a broker on the Central Bank register. The new lender treats you as a new borrower: payslips, bank statements, a credit check. Switching is outside the Central Bank limits, so the income multiple does not apply.
Valuation and loan offer
The new lender sends a valuer (about €185) and issues a loan offer with conditions. Your existing mortgage protection policy can usually be reassigned to the new lender; it is also a good moment to get fresh quotes. Home insurance just needs the new lender's interest noted on it.
The solicitor completes the switch
Your solicitor (on the Law Society's register) takes the deeds from the old lender, checks the title, takes the new lender's charge and pays off the old loan with the new money. A whole switch takes 6 to 10 weeks. Cashback or the legal contribution is paid after drawdown.
After the switch: overpay, claim the credit, set the next reminder
Most fixed rates let you overpay 10% of the balance a year without a fee; the calculator shows what each extra euro saves. If your interest rose since 2022 you may be able to claim the mortgage interest tax credit for 2026, its last year. Then set a reminder for the end of the new fixed rate.
Who you need on this journey
Mortgage advisor (broker)Ticked for you
Compares every lender's switcher offer
Conveyancing solicitorMost people use one
The new lender needs one; many lenders pay towards the fee
BER assessorOptional
A B3 or better unlocks green rates
Mortgage protection and home insuranceOptional
A good time to re-quote
Questions people ask
Is it worth switching my mortgage?
It depends on your balance, the rate you are on, the rate you could get, the fees and the cashback. The switching calculator nets them all off over the fixed period. A switch with a large balance and many years left tends to save more than one near the end of the term.
Does switching come under the Central Bank mortgage rules?
No. Switching and restructuring are outside the income and deposit limits. The new lender still checks your income and your credit record in its own way.
How long does switching take?
Usually 6 to 10 weeks from application to drawdown, with the solicitor's work the longest part. A rate switch with your own lender, where no solicitor is needed, can be done in days.
Can I switch if I am in arrears?
A new lender will usually refuse while you are behind on payments. Talk to MABS first, for free, and then to your lender about its arrears process (called MARP). Our money help page lists the free routes.
Should I give up my tracker?
Most people keep a tracker, because it is priced at the ECB rate plus a fixed margin and a lender cannot take it back. The cases where leaving one pays are rare, and since March 2026 your lender must show you the saving before you move.
What does a switch cost?
A solicitor (€1,200 to €2,000 plus VAT), a valuation (about €185) and any breakage fee on a fixed rate. Many lenders pay cashback of 1% to 3% or a legal contribution of €1,000 to €2,000, each with clawback conditions.