3 Real Life Switcher Examples Saving Over €10,000 Each

3 real life examples from switchers that saved over €10,000 each. Learn how you can save by switching now.
Customer testimonial

You might have heard that the average mortgage switcher in Ireland saves over €20,000, but that sounds too good to be true, right?

I mean if that was true everybody would be doing it surely and you’d be straight on google to get switched yourself, so there must be a catch?

Spoiler alert: There’s no catch.

That’s why record numbers are switching right now with more joining in everyday.

So we thought in this article we would share some real life examples of 3 of our recent mortgage switchers. That way you can see for yourself what people are actually saving and what’s actually involved in being a switcher.

Read on to see what switchers just like you have saved in the last few months and how much you could save by switching.

If you want to see how different providers compare on your mortgage right now you can click here.

Customer Example Irish Examiner

moneysherpa switchers Graham & Daire were with Ulster Bank and saved €63,000 by switching according to the Irish Examiner

  • Over 25% of all mortgage holders will save over €10,000 by switching
  • It only takes 15 minutes for a mortgage quote
  1. Couple Switching from PTSB to ICS – Example
  2. Couple Switching from AIB to Avant Money – Example
  3. Single Switcher from PTSB to Avant Money – Example
  4. What you should do next – Example

Noel & Naeiri, Switch from PTSB to ICS – Example

Noel & Naeiri Gavin have a home in Navan and switched their mortgage using online broker moneysherpa.ie.  Noel works in engineering and Naeiri is a stay at home mum.

Due to a combination of the strong property market in Navan and a number of home improvements they made to the house, the value of their home increased to over €500,000.

This reduced their loan to value to less than 60%, which is the size of the mortgage compared to the value of the property, allowing them to access better mortgage rates. 

They originally took out their mortgage with Permanent TSB which has one of the highest rates in the market. 

The fixed rate they were on was expiring in a few months so they contacted Moneysherpa for guidance on their next step. 

If they did not take action the mortgage would revert to the general variable rate from PTSB, which was 3.7%.

Follow on/Variable Mortgage Rates
up to
50% LTV
Follow on Rate
up to
60% LTV
Follow on Rate
up to
70% LTV
Follow on Rate
up to
80% LTV
Follow on Rate
up to
90% LTV
Follow on Rate
Avant Mortgage2.95%2.95%2.95%3.30%3.30%
ICS Mortgages4.70%4.70%4.70%4.95%4.95%
Finance Ireland5.75%5.95%5.95%5.95%6.15%
Haven Mortgages2.75%2.95%2.95%2.95%3.15%
AIB Mortgage3.10%3.30%3.30%3.30%3.50%
Ulster Bank3.50%3.50%3.70%3.70%3.90%
EBS Mortgage3.30%3.50%3.50%3.50%3.70%
Permanent TSB3.70%3.70%3.70%3.70%3.90%
Bank of Ireland3.90%3.90%4.20%4.20%4.50%
Probable follow on variable rates post fixed period based on current variable rates by provider, rates updated 15/03/23

moneysherpa advised them that they could save even more by switching provider to ICS mortgages, who’s fixed rate packages at 2.29% APRC recognise and reward the reduced risk from a low Loan to Value ratio when your property is worth more than your loan value. 

Noel & Naeiri were able to reduce their mortgage payments and take 4 years off their mortgage saving over €38,000 in the process by completing the switch.

Murray and Jennifer, switched from AIB to Avant Money – Example

Murray and Jennifer living in Drogheda switched their mortgage from AIB to Avant Money with moneysherpa. They saved over €10,000 with Avant Money’s 7 year Fixed rate and were able to use the savings they made to pay off their mortgage earlier.

Avant Money have some of the lowest rates on the market, their 7 year fixed is one of our favourites starting from 1.95% and locking in your savings for 7 years.

Short/Medium60% LTV70% LTV80% LTV90% LTV
3 Years1.95%2.03%2.05%2.06%2.15%2.23%2.2%2.25%
4 Years1.95%2.02%2.05%2.23%2.15%2.23%2.2%2.23%
5 Years1.95%2.02%2.05%2.06%2.15%2.22%2.2%2.25%
7 Years1.95%2.01%2.05%2.07%2.15%2.21%2.25%2.28%
10 Years2.10%2.12%2.20%2.20%2.30%2.32%2.40%2.40%
AVANT MONEY RATES (APRC calculated on €100K loan, 30 years, valuation of €185, security release €40)

ICS Mortgages pip Avant at the post for the shorter fixed term products due to their more flexible credit policy. However if you have a sparkling credit history the Avant Money 3 year and 4 year fixed at 2.39% & 2.43% respectively are so close it makes no difference.

Sandra, Switching from PTSB to Avant Money – Example

Sandra Chubb from Ballyfermot switched her €110,000 mortgage from PTSB to Avant Money in January.

She saved over €10,000 by lowering her interest rate from 3.4% to 2.01% APRC with Avant Money’s 7 year fixed product. 

By reducing her interest rate by over 40% she was able to afford to reduce her mortgage term from 21 years to just 12 saving thousands in interest payments. 

Sandra switched with online broker moneysherpa.ie 

“They were really friendly, gave me independent advice and helped me pull together the paperwork. Most people don’t realise they are in a position to save so much by switching” 

That’s why we would recommend using a broker to help you switch to a fixed rate product with a low on-going rate from either Avant Money or ICS.

The lenders with the lowest rates can usually only be accessed by brokers, many brokers are free to use and they can take the pain out of the paperwork.

Customer Example Irish Examiner

moneysherpa switchers Graham & Daire were with Ulster Bank and saved €63,000 by switching according to the Irish Examiner

  • Over 25% of all mortgage holders will save over €10,000 by switching
  • It only takes 15 minutes for a mortgage quote

What’s Next?

It makes more sense than ever to compare mortgage rates with massive savings available. There probably isn’t another financial decision that has as big an impact on your wallet.

A big thanks to Noel, Naeiri, Murray, Jennifer and Sandra for letting us share their stories.

The non bank lenders ICS, Avant Money and Finance Ireland have really leapt ahead of the pack this year with a 0.5% discount across all mortgage types. This has left the banks, who are weighed down with legacy costs, trailing in their dust.

These non bank lenders are only available via a mortgage broker or via one of our own mortgage sherpas, click for a mortgage check up with one of our sherpas here.

Avant Logo
  • Rates from 2.44% APRC
  • Fixed for 3-30 Years
  • Tighter approval policy
ICS Logo
  • Rates from 3.83% APRC
  • Fixed for 3-5 Years
  • Flexible approval policy
Finance Ireland Logo
  • Rates from 4.45% APRC
  • Fixed for 3-25 Years
  • Flexible approval policy

If you want to see what you could save by calculating your repayments you can click here.

If you want to know more about switching you can click here.

If you want to get your savings started right now, set up a free no obligation video call with a mortgage sherpa here.

Annual Percentage Rate Charge (APRC) calculated on a €100,000 loan over 20 years. APRC represents the average rate across the lifetime of a typical mortgage and is recommended as the best rate to use for comparisons by the CCPC. [1]

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Suzanne Powell
Suzanne Powell
Lovely to deal with. Sound, honest, unbiased advice with no pressure. They'll tell you what is genuinely best for you. Would highly recommend.
Lee Palmer
Lee Palmer
Great service. Highly recommended. Couldn't speak more highly of Gavin and team for making the whole experience as seamless as possible. Thanks all who were involved.
Eve Quigley
Eve Quigley
Cost of living challenges, seeing prices increase daily on everything from utilities, basic essentials and services made me re-evaluate my outgoings and where savings could be had. That included my mortgage, every article I read recommended reaching out to a mortgage expert. I have no regrets in contacting Moneysherpa, I contacted three experts and only they responded. Having delved into the world of mortgages, done my own research I knew my best option would be to stay with my present provider and fix my rate, they concurred and by doing so ultimately wouldn't have made a financial gain on my ask but were still willing to share their invaluable expertise with me and that counts for a lot. They were professional, knowledgeable and offered me sound advice. I have since recommended to family/friends. Thank you Nikki and your team, I appreciate your time and words of wisdom. Best wishes to you and your company.
David O'Shea
David O'Shea
Daire and the team helped me with a recent mortgage switch. Fantastic service from my first call with Daire through to completion. If you are thinking about switching mortgage then the first thing you should do is contact these guys. I am so glad I did!!
Julie Gleeson
Julie Gleeson
I was delighted with the service I received from the moneysherpa team. So efficient, friendly and on point with everything. Highly recommended them.
James Grace
James Grace
I used Moneysherpa when switching my mortgage provider at the end of 2022. Petrina was very helpful when detailing the different options available and working through the process. The online platform for uploading all the various documentation is very user friendly and clearly lists out what is uploaded and still outstanding. Louise then took over for the drawdown stage and answered any questions we had. I would definitely recommend Petrina and the team to anyone planning on switching their mortgage.
Gary Meade
Gary Meade
Great to see a “modern” mortgage service in Ireland. Everyone knows a mortgage application can be extremely time consuming and document heavy but with everything being “online” made such a difference. Highly recommend Petrina from discussing our options from the outset and any curve balls that came our way during the process. Damian (jacobs law) and Niki in Money Sherpa. Highly recommend. Thanks everyone
Dara Gannon
Dara Gannon
Had a very informative consultation with Kinga who answered all our questions and gave us sound and impartial advice. Top class service. Thanks!
Brian Carpenter
Brian Carpenter
Great service...a pleasure to deal with & very prompt with responses to any queries. Would recommend to anyone.
Edwin Nienhuis
Edwin Nienhuis
Very good service by the MoneySherpa team in helping us switch our mortgage earlier in the year. First an introduction call, explaining the service and next steps in detail followed by the creation of a personalised portal where you can upload all your documents and track the mortgage application process.
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