Mortgage Company of Ireland constantly monitors the remortgages on offer to ensure we can meet your remortgaging requirements. You should review our switch and save calculator to see what direct savings you will make on rate.

1. The upper limit on remortgages is 80% of the value of your property. Following the recent credit crunch, some lenders have scaled back their loan to value percentage to 80% when offering remortgages.

2. As a guide you should budget in the region of €1,200 for fees involved in a remortgage. The legal fee element of this is approximately €700, and our standard professional fee is €500. The legal and administrative fees can be covered in the remortgage facility.

3. A valuation fee of €130 is also payable, as the lender will require a valuation before a loan offer is issued.

4. You will need to have life insurance to the value and term of your new mortgage in place, prior to draw down. Your mortgages.ie consultant will be happy to provide you with quotations from six of Ireland's leading insurance companies.

5. Redemption penalties may arise if you are breaking a fixed rate mortgage agreement. If you want to remortgage and are in a fixed rate you will need to check with your current lender regarding any penalty payable on leaving a fixed rate - see our Customer area, document section, for a draft letter to your existing mortgage holder.

6. Currently the best value rates on offer are variable rates. However, there is a wide divergence in rates between lenders and careful consideration needs to be given to the best provider for your circumstances. Choosing the wrong lender can prove very expensive in the long term.

7. The remortgage process can normally be completed in approx three weeks. If you are remortgaging, it is worth gathering all the relevant information as quickly as possible so you can get on with the remortgage and avoid monthly payments on loans you may wish to refinance.

As with all our mortgages you can track the progress of your application on line through our on line customer log on system.

If you want to talk to an adviser about remortgaging please get in touch.