Completed 2nd Switch


Frequent Poster
So last May I switched from Ulster Bank 3.2% loyalty to rate to 1 year Fixed 3% BOI with 2% Cashback.
Back in Feb/March '19 I started the process to switch back to Ulster Bank with 2 yr fixed 2.3%. I knew from last year that it could be 2/3 months to switch so I wanted to have everything ready to go to switch in May.
I also engaged with EBS to weigh up another 1 yr fixed @ 3% with cashback and push back switching to UB in 2020. However EBS decided that I must be with current provider 12 months before they would entertain me. UB had no issues and I found the uploading of docs via their digidocs extremely simple & quick.
Signed all docs with solicitor and had no issues with assigning the life policy (that can cause delays)
Solicitor had all my details from previous switch so it was quick & painless.
Its not as complicated as it might seem and it helps if the customer service is good. UB were a million miles better then EBS and kept in touch every step of the way.
The banks need to be clearer on their switching process and how long they want you to be with current bank. EBS asked for all bank/loan statements and paper proposal form to be completed, before they decided to tell me I must be 12 months with current lender.
The €1,500 legal fees will cover solicitor costs but its circa €100 drop in mortgage repayment.
Anyone thinking of switching & has questions, fire away!