A study conducted by the Central Bank in 2020 showed mortgage holders could save €1,000 within the first 12 months of switching, despite a record In an era of low interest rates, mortgage holders paid little attention to switching.

That all changed this year as inflation weighed on disposable income and people sought to save.The European Central Bank (ECB) began raising interest rates for the first time in 11 years, and the KBC and Ulster Bank prepared to exit Ireland.Banking and According to the Payments Federation, the value of non-purchased mortgages (mostly from conversions) was €441 million in July, 148% higher than in the same month last year.

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