Property · Calculator companion · By K Imports
Mortgage switching comparison: practical guide
This guide explains how to use the Count.ie mortgage switching comparison. Compare two mortgage rates over the same remaining term. Follow the inputs, method and worked example below, then compare your own scenario.
Guide written .
Open the Mortgage switching comparison calculatorWhat to prepare
- Collect the purchase, loan, rental or project figures from dated documents.
- Distinguish purchase price, borrowing, one-off acquisition costs and recurring ownership costs.
- Check the property's use, tax year and any scheme eligibility against official guidance.
Understand the inputs
The calculation method
Calculate repayment annuities for each rate and subtract net switching costs from payment savings.
Worked example
Illustrative inputs and their result.
Example inputs
- Outstanding mortgage (€)
- 250000
- Remaining term (years)
- 25
- Current annual rate (%)
- 4.5
- New annual rate (%)
- 3.7
- All switching costs (€)
- 2200
- Unconditional cashback (€)
- 0
Calculated example result
- Lifetime Saving
- €31,114.04
- New Monthly Payment
- €1,278.53
How to interpret the result
A loan payment, gross yield or purchase budget describes only part of ownership. Read exclusions carefully: affordability, lender approval, vacancy, repairs and transaction eligibility may not be fully modelled.
Compare like-for-like properties or financing scenarios, with the same term and cost basis. Where relevant, test a higher interest rate, a vacancy period or a larger maintenance allowance.
Common mistakes to avoid
- Do not compare gross rental yield with net cash flow as if they were the same measure.
- Do not assume a favourable tax result means the property or letting qualifies for a scheme.
- Keep refundable deposits and recurring costs separate from permanent acquisition costs.
Assumptions and sources
Rates remain constant; include actual legal, valuation and fixed-rate break costs. Cashback conditions are separate.
If your case falls outside this scope, use a more suitable calculator or contact us about an unclear method.