OVER 2000 CONSUMERS JOIN IRELAND’S LARGEST MORTGAGE SWITCHING CAMPAIGN IN THE FIRST 24 HOURS
This week, One Big Switch launched Ireland's first ever Big Bank Switch campaign to help close the Irish Interest Rate gap.
The campaign was launched in Dublin yesterday to help close the significant gap between Irish mortgage interest rates, and the lower average rates in Europe. To achieve this goal, by the end of the year the campaign aims to collect 20,000 Irish consumers willing to switch banks together.
To give you an upadte on the campaign, in the first 24 hours, we have:
Over 2000 consumers have registered at OneBigSwitch.Ie
Based on the average mortgage size, that is OVER €36 million in Mortgage switching power
This is now the largest Irish group mortgage switching ever formed
Joining the Big Bank Switch campaign is cost and obligation free, One Big Switch will negotiate a group discounted mortgage offer using the campaigns buying power. Consumers who join the campaign can then use the offer to shop around, get a better offer from their current provider or switch, if they decide the offer suits them.
I have welcomed this huge resopnse to the campaign, to have over 2000 consumers join the campaign on day one is a massive response in such a short time, and a loud and clear message that Irish consumers are desperate for more competition in the banking sector.For the Big Bank Switch to work, we need the support from from consumers, which is why aggregating over €36 million worth of buying power on day one is so important, it tells the mortgage lenders that consumers will rewards lenders who cut their prices, and drive up competition.
All the best,
Co Founder of One Big Switch.