Why switching makes sense
There's one very good reason for switching your mortgage. Money. Think about it, if your boss asked if you'd like a pay rise, you wouldn't need time to chew it over would you? Yet surprisingly, many people don't review their mortgage, even though doing so could put extra money in their pocket.
The thing is, after a few years, your marvellous introductory rate will usually revert to a higher rate. And you probably won't even realise it. So think what you could do with say, an extra €100 every month. It could pay for a holiday, a new car or speed up those home improvements you've been thinking about.
Here's some ideas on how you could spend the extra money.
- Pay off your credit or store cards.
- Start a savings account for your kids.
- Use it towards school fees.
- Use it for Christmas presents each year.
Next: Your options explained
