Lenders should be required to inform consumers about other available mortgage options that could save them money, the Central Bank says.
The regulator has published a consultation paper on measures to aid mortgage switching.
The consultation will be open for three months until the start of November.
Among the other measures proposed is to inform consumers about the impact of mortgage-related incentives, such as cash back offers and mortgage holidays.
Lenders would also be required to help consumers to compare their existing mortgage to other mortgage options and to provide consumers with standardised switching information.
"The Central Bank has put in place a strong framework to protect consumers both when taking out a mortgage and throughout the term of the mortgage," Acting Deputy Governor Bernard Sheridan said.
"In proposing these new measures, we aim to build on these strong protections. These measures will require lenders to provide consumers with the necessary information at the right time to consider their options and ensure that the process facilitates consumers who want to switch their mortgage."
The proposed rules follow the publication of research by the Central Bank in recent months showing that just 4% of borrowers had moved home loans to a new lender.
Only 6% had changed their product with their existing bank.
The research also found that around four in five borrowers had not considered moving their mortgage.
