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Dublin: 5 °C Tuesday 17 September, 2019

Mortgage expert or beginner borrower? See how your knowledge compares to other readers

From the approval process to possibly switching – tell us your thoughts.

Image: Sam Boal/Rolling News

WHETHER YOU’RE IN the process of building up your savings for a deposit or you’re a decade into your mortgage – the market is always changing and it’s very important to keep up.

With our current mortgage activity now ‘returning to 2008 levels’, it’s essential that we understand our choices – whether that’s the advice not to panic and automatically take the first mortgage you’re offered to the fact that you may save significantly by switching.

So, tell us about the extent of your knowledge on mortgages – whether you’re fully up to speed or the word ‘tracker’ sends you into a sweat. Just simply drag your cursor or finger along the slider to let us know where on the scale your experience falls.

First, let’s get a handle on your thoughts on the market, and whether your current or future mortgage is a worry for you.

CURRENT CHOICES

‘There’s plenty of choice in the current mortgage market’ - how strongly do you agree with this statement, 10 being a lot, 0 being not at all?

6

 

MONEY TROUBLE

How much do you worry about your current, or future mortgage, 10 being a lot?

6

Now, let’s talk a little about the process that’s involved both in getting a mortgage in the first place and for opting for one that might suit your needs better at a later stage (in fact, new changes brought in this year have made it even easier). 

FINDING INFO

How satisfied are you that you have access to independent information on mortgages, 10 being very satisfied?

6

 

PENDING APPROVAL

How confident would you be of your understanding of the mortgage approval process, 10 being very confident?

6

 

SWITCH UP

How strong would you say your understanding of the mortgage switching process is, 10 being very strong?

6

Finally, let’s take a look at what is important for you when you do choose a lender to go with – is a pre-existing relationship important to you, or will you just chase the best rate? And how confident are you about the types of mortgages available or whether you’d be willing to switch? Tell us here.

BANK ON IT

How likely would a cashback offer be to influence your decision of who you got your mortgage from, 10 being very likely?

6

 

PERCENTAGE CHANGE

How confident would you be of your understanding of fixed versus variable rate mortgages?

6

 

CHANGING PLACES

How likely would you be to switch your mortgage in the future, 10 being very likely?

6

Still a bit confused about getting a mortgage or whether you could benefit from switching your current one? Have a look at CCPC’s handy mortgage comparison tool to get an idea. Make sure you’re fully up to speed on all of your options by visiting the CCPC’s mortgage section to learn everything you need to know to find the right one.

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