The valuation your new lender needs, in the format they require, without the delay that stalls most switches.
When you move your mortgage from one lender to another, the new lender needs its own independent valuation of the property it is taking as security. It will not rely on the valuation done when you first bought, however recent that was.
Irish homeowners leave a great deal of money on the table by staying with their original lender out of inertia. Over the remaining term of a mortgage, a rate difference of a fraction of a percent is a substantial sum.
Two things commonly go wrong. The first is delay: the valuation is left to the end, and the switch stalls waiting for it. The second is that people switch without checking whether their loan to value band has improved. If your property has risen in value or your balance has fallen, you may qualify for a materially better rate than the one you are being quoted. It is worth checking before you commit.
Almost never. Lenders require a current valuation instructed for their own purposes.
Usually the borrower, though some lenders offer switching packages that cover valuation or legal costs. Check what your new lender is offering. It is worth asking.
It can. Many lenders price by loan to value band, so if your property has risen in value or your balance has reduced, a current valuation may move you into a cheaper band. See our LTV valuation page.
Yes. Give us their details and we will liaise with them directly.
Send us your new lender's name and any form they have issued, or use the form.
Or email hello@jwl.ie