Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

That is the problem. When people look at a website, they see what the criteria are and then they look at their credit history. The criteria state:

Customers must be repaying capital and interest on the full outstanding mortgage i.e. there is no split/warehoused element of the mortgage, and the mortgage is fully up to date.

The customers’ credit history, i.e. their Central Credit Register (CCR) record, must show a clean repayment track record without arrears for at least the past two years.

Customers must be able to demonstrate that they have sustainable income [obviously, that is part of what it is] which is adequate to repay the mortgage in full over the lifetime of the loan.

Customers must have a satisfactory bank account performance i.e. no unpaid items such as a direct debit or standing order and all the customers’ other loans/debts [a car loan, a student loan, or any of those] must be up to date.

The current Loan-to-value (LTV) of the mortgage must be less than 90%.

The circumstances that gave rise to any previous financial difficulty must have been resolved.

All of those requirements explain why people are not switching. They just make it impossible. There is also the question of asymmetrical information, where people do not have the-----