A big reason for not switching omitted from the first post, is that many mortgages are just too small and have only a few years left.
The saving is not great enough for me to want rock any boat plus I want to be in a position to pay off whenever I want.
Fair point but I suppose a mortgage with a relatively low outstanding balance or term probably falls within the "not worth the hassle" category, from the perspective of both the lender and borrower.
The boat that Clubman pointed out that they could potentially query whether it's still my PPR.What boat are you trying to avoid rocking?
Yep.Have you worked out the potential savings before deciding that it's not worth the hassle?
I think it's worth distinguishing between those who could save money by switching but don't, and those where the costs of switching exceed the savings in interest.
Brendan
I am in a position to pay it off now but will wait till I move back into it. (This timeframe is hard to pin down right now but is not expected to be more than a few years.) I believe cash is king for the moment so prefer to have savings at a cost than to have to go back to the days of proving to the bank that you don't need the loan your applying for in the first place.
Sarenco - great thread. Don't know how I missed it.
gnf - This would be a great help to people, given your experience. Carmel outlined her experience in this thread. Any chance you could outline your case in a similar manner?
We switched mortgage from BoI to KBC, and we would encourage others to do so as well!