More than 100-thousand people on variable rate mortgages could make savings on their loans by switching to a lender with a lower interest rate.
Research from the Central Bank says around 27,000 people could reduce what they're paying by around a thousand euro a year if they switched provider.
However, half of mortgage holders cannot find a cheaper rate - mainly because they're on a tracker - and many customers are put off switching because they think it will be expensive.
A third of homeowners could make savings by switching but are not in a position to do so because of arrears or high loan to value ratios.
Currently just 38 homeowners a month are switching at the five main banks.
