Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

There certainly is a degree of competition for new mortgages and for those who are in a position to switch. I would be the first to advocate to those who have equity in their homes and who are in a position to switch their mortgage from one provider to another to avail of a better interest rate to do so. People of course should shop around and I have asked the Central Bank to consider introducing a code of conduct on mortgage switching. Such a code is in place if one wishes to switch one's current account but no such code is in place if one seeks to switch one's mortgage. Many people are put off by the hassle involved in switching their mortgage-----

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