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NewsOVER 2000 CONSUMERS JOIN IRELAND’S LARGEST MORTGAGE SWITCHING CAMPAIGN IN THE FIRST 24 HOURS

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, 

Oliver Tattan.  

Co Founder of One Big Switch. 

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OVER 2000 CONSUMERS JOIN IRELAND’S LARGEST MORTGAGE SWITCHING CAMPAIGN IN THE FIRST 24 HOURS

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Anonymous
Anonymous from D commented:

competition is required more than ever now and the public just seem to be people of habit and stay with their original supplier but thanks to you I think it is about to change with your help. 

Rob
Rob from D commented:

This is an easy one to fix. As the majority shareholder in AIB and PTSB, the government should simply call a meeting of the board of Directors of each institution and demand a minimum 1% cut across ALL SVR products equally. Other lenders will follow suit quickly enough. Noonan's responses to date, that they cannot compel the central bank to interfere in commercial issues is disingenuous at best. They could interfere quickly enough changing the deposit ratios. 

Anonymous
Anonymous from CW commented:

I have a variable rate mortgage with kbc and feel for years now that l am being ripped off.help! 

Martin
Martin from D commented:

I'm all for more competitive banking and this is a good way achieving this ,but personal Data collection is one of the largest growing sectors in the business world and signing up to this demands way too much personal information in advance.And as they say on Dragon's Den .And for that reason I'm out. 

Gerard
Gerard from C commented:

Just got on board. I've being emailing Minister Noonan and my local tds for the last year or so to no avail. I'm a customer of ptsb and to hear today about the secret bonuses up to 10000 that they are giving to some staff made me even more angry with our government who put no pressure on banks to reduce vrm. 

pierce
pierce from C commented:

Its disheartening the little amount of numbers whom have jumped on this. I thought there would be tens of thousands joining already. 

noel
noel from OY commented:

Tried all the banks to remortgage my home (small loan (€70k) repayments of 450-500 a month. plenty of equity good job to purchase holiday/retirement home in Cork paid off over the next 20 years. can borrow for a car or extension but not for a second home..... 

Anonymous
Anonymous from C commented:

Hi All I am on board with your campaign. Currently with BOI on a variable rate Thanks 

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