90,000 could be in line for lower mortgage rate following surge in house prices

Surging house prices over the last two years mean that thousands of homeowners are unexpectedly eligible for lower mortgage rates.

It applies to some 90,000 homeowners who drew down their mortgages between 2018 and 2020, according to the findings of the latest Irish Independent Doddl.ie mortgage switching index.

They will now be able to switch to lower mortgage rates for their new properties.

Doddl.ie managing director Martina Hennessy said: “With house prices increasing by over 10pc annually, opportunity is now knocking for those who have bought as recently as 2020 to take advantage of lower loan-to-value mortgage rates which could save them more than €20,000 over seven years…”

Read more on Independent.ie.

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