We’re offering switchers up to 3% back in cash. That’s 2% upfront and 1% in five years of the value of your new mortgage if you are switching to us
— SWITCH YOUR MORTGAGE WITHOUT SWITCHING HOME —
Simple and straight forward process
Even if you’ve been thinking it’s time to take a fresh look at your mortgage, you might put off switching because you think it will be too time-consuming and stressful. Well, it doesn’t have to be that way. Switching to EBS is simple and straight forward and could save you thousands in interest over the term of your mortgage. Read our home owner's guide to switching your mortgage for all the nuts and bolts of our switcher mortgage.
- NEXT STEPS -
The mortgage switching process
Speak to us
Book an appointment with one of our Mortgage Advisors who will go through the mortgage application form and switching process and let you know what documentation you will need to gather for your application
Get approval in principle
When you’ve given us the information we need to make a decision, we’ll tell you exactly how much you can borrow, that is known as approval in principle
Loan Approval
Once our team accept your property and valuation, we will carry out a full loan assessment to make sure that it meets our standard lending conditions. Then you will be given a letter of offer
— FAQ —
Got some questions?
Here are some useful answers to big questions
Competitive interest rates including variable rate relative to your loan to value and fixed rates.
For customers who aren’t sure what rate to choose, we give you the option of splitting the loan amount in two, so you can have the variable interest rate on a portion of the loan and a fixed interest rate on the remaining portion of the loan.
You can borrow up to 90% of the value of the property - Loan To Value (LTV) *90% where you are not applying for additional money on top of your existing mortgage balance; or
80% for a one bed property or studio apartment valued at €275,000 or above. We do not lend for studio apartments valued under €275,000.
Repayment terms of up 35 years may be available.
Things may have changed since you last got your mortgage – new Central Bank Rules have come into play, for instance. So how much you can borrow will be based on your income, your house price, and what you can afford.
Up to 90% loan to value is available on switcher mortgages.
Up to 80% loan to value is available for a studio apartment valued at €275,000 or above, or a one-bedroom property.
What you can borrow will also depend on what you can comfortably afford to repay monthly, this typically should not be more than 35% of your disposable income, however this may vary according to individual circumstances. Why not use our mortgage calculator to see what you can afford?
Appoint a solicitor and let us know their name and address. If your application to switch your mortgage is approved by EBS, we will send you and your solicitor a Letter of Loan Offer and the mortgage terms and conditions
You meet with your solicitor to review and sign your Letter of Offer and any other legal documents
Your solicitor returns the signed legal documentation to us
Once you meet all the conditions of your Letter of Offer, your solicitor requests the mortgage funds
We send the mortgage funds to your solicitor and send you a letter confirming drawdown of your new mortgage
Your solicitor will use the mortgage funds issued by EBS to clear the outstanding mortgage with your existing mortgage provider.
Your house will have to be valued by an independent valuer from the EBS Valuation Panel. This will cost you €150. If the valuation is carried out more than four months before the requested date of drawdown, a re-valuation will be required which will cost you €65. EBS will arrange the valuation of the property on your behalf.
Need more support?
Regulatory Information
- Lending criteria, terms and conditions apply. Over 18s only. Security may be required.
- WARNING: If you do not keep up your repayments you may lose your home.
- WARNING: You may have to pay charges if you pay off a fixed-rate loan early.
- WARNING: The cost of your monthly repayments may increase.
- WARNING: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.