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Variable Mortgage - Switch Provider Very Early

  • 13-03-2021 5:07pm
    #1
    Chranchel
    Registered Users Posts: 20 ✭


    Hi

    I'm a first time buyer. If I start a Variable Rate Mortgage are there any restrictions if I want to switch my mortgage to another provider a couple of months in to the term?

    Is there a minimum term I need to serve? I assume my broker's commisison would be affected if I switch early?

    Thanks


Comments

  • #2
    Shedite27
    Registered Users, Registered Users 2 Posts: 9,419 ✭✭✭Shedite27


    Chranchel wrote: »
    Hi

    I'm a first time buyer. If I start a Variable Rate Mortgage are there any restrictions if I want to switch my mortgage to another provider a couple of months in to the term?

    Is there a minimum term I need to serve? I assume my broker's commisison would be affected if I switch early?

    Thanks

    You'll obviously have to go through a whole new mortgage application with valuations, solicitors etc but nothing stopping you. If you take the bank's 2% cash back and want to move back to that bank again in the future it could cause problems (I've had one friend not given a UB mortgage for this reason)


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