Consumer Protection Code – Mortgage Switching

If you have a mortgage, you could make potential savings by exploring mortgage switching opportunities with your lender. 

Under the Consumer Protection Code, your lender must:

• Tell you about cheaper mortgage options 60 days before you come out of a fixed rate mortgage
• Advise if you can switch to a cheaper mortgage based on how much equity is in your home
• Provide you with a personalised saving estimate (in euro) alongside each alternative mortgage refinancing option  – this will show you how much you could expect to save by opting for a different mortgage product
• Provide you with a specific reminder of the mortgage refinancing options between four and eight weeks from when originally notified
• Clearly explain the pros and cons of any mortgage incentives such as cashback offers
• At your request, provide you with a comparison between how much your mortgage costs and other mortgage options that the lender provides
• Provide you with all the information you need to switch, including advising you how long it will take to do so
• Inform you of a decision about your mortgage switching application within 10 business days of receipt of a completed application
• Provide your legal representative with title deeds to your property within 10 days of the request.  
  

The Consumer Protection Code: For clarity, for informed decision-making, for you.

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