MORTGAGES
Remortgaging in Ireland
Remortgaging means replacing your existing mortgage with a new one, usually to borrow more against the value of your home.
If you’ve built up equity in your property and want to fund home improvements, buy another property, consolidate existing debts or cover another major expense, remortgaging could provide the solution.
If your goal is simply to secure a lower interest rate on your existing mortgage balance, you should instead consider switching your mortgage.
MortgageLine compares remortgage options from Ireland’s leading lenders, advises how much you may be able to borrow and manages the application from start to finish.
Book your Free Mortgage Review today.
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Why Remortgage Your Home?
Home Improvements
Funding home improvements or an extension that could improve both your lifestyle and the value of your property. Learn more about remortgaging for home improvements and extensions.
Education Costs
Funding other significant life expenses, like education costs or buying another property is also possible. Provided the borrowing is affordable and supported by lender criteria.
Buying another property, such as an investment property or holiday home, using equity built up in your existing home. Read our guide to remortgaging to buy another property.
Consolidate Existing Debts
Consolidating existing debts into your mortgage where appropriate. While this may reduce monthly repayments, spreading short-term debt over a longer mortgage term can increase the overall amount repaid, so careful advice is essential.
Other Life Expenses
If you need to raise funds for any reason check with us and we will let you know what is possible with a remortgage.
Our advisors will assess whether remortgaging is suitable for your circumstances and explain the long-term implications before you proceed.
How Much Can You Borrow?
Equity Explained
Equity is the difference between your property’s current market value and the balance remaining on your mortgage. The more equity you have, the greater your potential borrowing capacity, subject to lender affordability assessments.
| Example | |
|---|---|
| Current Property Value | €500,000 |
| Outstanding Mortgage | €220,000 |
| Equity Available | €280,000 |
| Indicative Maximum Borrowing (subject to lender criteria) | Based on current loan-to-value limits and affordability |
Unlike a straightforward mortgage switch, a remortgage involving additional borrowing is assessed as new lending. Lenders will consider your income, affordability, loan-to-value ratio and the purpose of the funds before approving an application.
Use our How Much Can I Borrow Calculator for an initial estimate before speaking with one of our advisors.
Did You Know?
With a Remortgage in Ireland you could reduce your monthly repayments, secure a better rate, and even unlock cashback for home improvements or other significant life expenses.
Remortgaging vs Equity Release: What’s the Difference?
The terms remortgaging and equity release are sometimes used interchangeably, but they can refer to different products.
Remortgaging involves replacing your existing mortgage to release some of the equity in your home while continuing to make normal mortgage repayments.
MortgageLine also helps you with lifetime loans for over 60s, which are a separate type of equity release product designed for older homeowners. If you are over 60 and wish to access equity without making standard mortgage repayments, our lifetime loan service may be more appropriate.
How Does a Remortgage Work for You? A Timeline
Review Your Current Mortgage
– Check if your current mortgage is on a fixed or variable rate.
– Look at interest rates, fees, and any early repayment charges
Compare & Apply
– Speak with a MortgageLine adviser to explore the best remortgage deals in Ireland
– Use our calculators to estimate repayments and how much you could borrow
Get Approval
– Receive Approval in Principle for your new remortgage
– Plan ahead to avoid moving to a high standard variable rate
Finalise and Complete
– Complete the remortgage to your new lender.
– Start benefiting from lower repayments and cashback for home improvements
Who Can Remortgage? Eligibility at a Glance
Most mortgage lenders will consider a remortgage in the following circumstances: See Below
Get in touch with a MortageLine broker
Eligibility & Benefits for Switching Mortgage Providers in Ireland
Eligibility Criteria to Remortgage
Remortgage providers in Ireland can help you save, but you’ll need to meet certain requirements:
- Outstanding Mortgage Balance: Most lenders require a remaining balance of €40,000–€50,000.
- Credit Rating: A strong credit history is important for switching or remortgaging in Ireland.
- Home Equity: Ideally, you should have at least 10–20% equity in your home.
- Remaining Term: Lenders prefer mortgages with more than a few years remaining.
- Property Type and Location: Unique or high-risk properties may face restrictions.
Our experts will guide you through how to remortgage and what makes sense for you.
Home Equity & Property Rules
Many homeowners do not realise they use the equity in their property to:
- Get a Lower interest rate to cut monthly repayments
- Access to cashback incentives which cover remortgage costs
- Flexible options like payment breaks or overpayments
- The ability to fund home improvements or other life expenses
We’ll guide you through every step and help you understand if a remortgage is the right move for you.
Get Started with your Remortgage Today
Review Your Current Mortgage Provider
- Check your current lender’s interest rate, terms, and any early repayment penalties
- Note your outstanding mortgage balance and estimated home value
Check Eligibility and Compare Providers
- We’ll help you assess your income, repayment ability and home equity
- Compare the best mortgage remortgage deals available from other mortgage providers in Ireland
Submit and Finalise Your Remortgage
- Submit your application to MortgageLine. We will guide you from application to remortgage approval.
- Finalise the transfer to your new lender and start enjoying lower repayments, cashback and flexible features.
Our advisers will support you at every stage, guiding you through every step of the remortgage process. Save time, money, and remortgage with confidence!
Important Information on Mortgage Regulations and Risks
5 Star Reviews from happy clients
Frequently Asked Questions
Our clients frequently ask us questions about remortgages. Some examples are listed below:
Ready to Talk about a Remortgage?
Book a Free Mortgage Review with MortgageLine today or call 01 707 9880 to speak with one of our experienced mortgage advisors.
