What is the multiple switching market like these days?

I

Itchy

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What is the environment like for cashback harvesting these days, particularly for FTB's? There is very little difference between fixed and variable rates and a peaking rate cycle (?). I'm assuming credit policies have tightened up over the years. I would be interested in hearing any recent experiences? Potential path would be PTSB -> BOI -> AIB.
 
Itchy said:
What is the environment like for cashback harvesting these days, particularly for FTB's? There is very little difference between fixed and variable rates and a peaking rate cycle (?). I'm assuming credit policies have tightened up over the years. I would be interested in hearing any recent experiences? Potential path would be PTSB -> BOI -> AIB.
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I tried to switch last year (to Avant). Not for cashback, for the cheaper rate. I was 14 years into a 30 year mortgage. Never missed a payment and earning much more now.
I got asked repeatedly for new docs not mentioned at the start and then for new payslips as they took so long.
I gave up after 3 months as there was no end in sight and interest rates were on the way up. So I fixed with my current bank.

I switched in 2016 to Ulster Bank. While it was a pain then it was much easier than trying Avant in 2022.

I don't know if it was Avant or if that's common. I have a friend earning much more than me buying a house and using BOI. He seems to be having a rough time too.
 
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I switched to Avant myself. I'm more interested in hoping lender for Cashback (a family member is starting to get on the ladder). I did it myself a few years ago and seems like a sensible strategy for FTBs. Arguably its a better opportunity now, given we had to pay break fees to pay back then.
 
McGaggs said:
I switched to Avant and had no issues. It was all sorted quickly.
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Might have been broker related. I don't know. Our situation and money history is simple. Every doc they asked for was provided within a day. Ah well don't need to look into it again for another 4 years.
 
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