Incentives to Switch Mortgages

gnf_ireland

Registered User
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With the moves yesterday by ptsb and BOI, I am wondering if there is a real appetite for banks in Ireland to engage the process of switching mortgages, or just some movement to show they are interested but not really.

Other than potentially lower rates based on LTV, I am wondering what other 'sweeteners' banks are currently offering to customers to switch their mortgages to them, to offset the hassle/cost of moving the mortgage.

I will update the list as I proceed with my investigations, but if anyone has this detail please do feel free to pass it on.

AIB
- ?

BOI
- ?

EBS
- ?

KBC
- 1,000 euro towards the legal fees of switching mortgages
- free house insurance for 1 year
- ?

PTSB
- ?

ULSTER
- ?

ANO
- ?
 
Bank of Ireland gives 1% cash back to all new customers. It's not for switchers per se, but switchers get it.
 
So Brendan if someone was to switch their mortgage of say 200k to BOI, BOI would give them 2k cash back even though it does not relate to stamp duty ? Does not apply to me personally, but could make a difference to others who are considering moving
 
Hi gnf

Apologies, it looks as if it only applies to people buying houses and paying stamp duty

[broken link removed]

Brendan
 
Hi Brendan

That's ok. I think I may have had high blood pressure if moving to BOI would get me 1% cash back and a lower rate, whereas as an existing customer they are not doing anything at all to make it an even playing field.
 
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