A.E.M.A.

Banks could do more on switching - Central Bank survey

New Central Bank research shows that lenders could be doing more to facilitate consumers who are thinking about switching their mortgage to either another bank or to a different product.

The Central Bank research also reveals that borrowers who have switched their mortgages reported a "positive experience".

81% of those surveyed said they had understood what was going on at each stage of the process. 27% of mortgage holders who had switched also said they came across no obstacles when making the move.

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The option of selling the property and discharging the debt is not an option for those who find themselves in difficulty..

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