Which Irish lenders pay cashback to switchers?

Cashback offers change regularly — lenders have offered fixed amounts (for example €3,000) or a percentage of the mortgage (1–2%) to switchers. Cashback usually comes with conditions, and a lender with cashback but a higher rate can cost far more over time — this calculator nets everything so you can compare fairly.

Should I Switch My Mortgage?

Q: Is it worth switching my mortgage in Ireland?

If you can get a rate meaningfully below your current one, usually yes. Switching typically costs around €1,300–€1,700 in legal and valuation fees, but several Irish lenders pay switcher cashback that can cover those costs entirely. The key numbers are your monthly saving, your lifetime interest saving net of costs, and how quickly you break even.

Q: What does it cost to switch mortgage in Ireland?

Typically around €1,300–€1,700 for solicitor fees plus a valuation (roughly €150–€250). If you're on a fixed rate, a breakage fee may also apply — ask your current lender for a redemption figure, as it's often lower than people expect, and can even be zero.

Compare your current rate against a new offer — monthly and lifetime savings, honestly netted against legal fees and cashback. No lead capture, no bias.

Outstanding balance

€25k€800k

Remaining term (years)

1 yr35 yrs

Your current rate (%)

1%8%

New rate on offer (%)

1%8%

Switching costs

Cashback from new lender

Please enter valid positive numbers.

On a fixed rate? Ask your current lender for the exact breakage fee before deciding — since 2019 it's often far smaller than people assume, and sometimes zero. Add it to "switching costs" above to keep the comparison honest.

How this switching comparison works

This calculator reprices your remaining balance over your remaining term at the new rate and compares it against staying put. The lifetime saving is the difference in total interest, minus your one-off switching costs, plus any cashback the new lender pays. The break-even point is how many months of monthly savings it takes to recover your upfront costs (net of cashback).

Banks present switching numbers with their own products in the best light, and brokers usually ask for your contact details before showing you anything. This page does neither — the math runs in your browser and nothing you enter is sent anywhere.

Worked example

Say you owe €250,000 with 25 years left at 4.5%, and a competitor offers 3.5%. Your repayment drops from about €1,390 to €1,252 — a €138 monthly saving. Over the full term that's roughly €41,000 less interest. After €1,500 in legal and valuation fees (and no cashback), the net lifetime saving is still around €40,000, and you'd break even on costs in under a year.

Don't stop at one quote. Rates vary meaningfully between Irish lenders, and your loan-to-value band matters — if your home's value has risen, a new valuation might drop you into a cheaper LTV band on top of the rate saving.

Frequently asked questions

Is it worth switching my mortgage in Ireland?

If you can get a meaningfully lower rate, usually yes — the typical €1,300–€1,700 switching cost is often covered by cashback, and the lifetime interest savings can run to tens of thousands of euro. Run your own numbers above.

What does it cost to switch mortgage in Ireland?

Typically €1,300–€1,700 for solicitor and valuation fees. On a fixed rate, ask your lender for the exact breakage fee — it's often lower than expected and can be zero.

Which lenders pay cashback to switchers?

Offers change regularly — fixed amounts and 1–2% of the mortgage have both been common. Cashback has conditions, and a higher rate can cost far more than the cashback is worth — always compare on the netted total, which is what this calculator shows.

This comparison assumes both rates stay constant for the remaining term, which won't be true of variable rates or short fixed periods. It doesn't include any fixed-rate breakage fee unless you add it to switching costs. Estimates only — not financial advice; confirm figures with lenders or a broker.