# How long from approval to drawdown when switching to avant



## Bolter (30 Sep 2021)

In process of switching to Avant.  Have received approval in principal, house valued and all documents now submitted.
Roughly how long till drawdown- interested in others experiences?


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## Acorn22 (14 Oct 2021)

Hi, it should only take a few weeks.  We found Avant quite good when drawing down.


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## Laughahalla (7 Feb 2022)

Bolter said:


> In process of switching to Avant.  Have received approval in principal, house valued and all documents now submitted.
> Roughly how long till drawdown- interested in others experiences?


How long did Avant AIP take and the process overall?


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## rob oyle (7 Feb 2022)

Was about 4 weeks for us, allowing for repeated document requests (even though the details were the same). They tended to asks for things one at a time though, then seemingly park our file until that request was fulfilled and then continue with their review once the document was received, which slowed things down a little. Could be the case for the person handling our file - remember that there are more links in the comms because everything is routed through a broker.


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## Bolter (8 Feb 2022)

Aip took about 2  months. But in that time there were two staff changes at the broker so
And we were a bit slow getting back to broker with documentation to be fair.
Like Rob oyle it was drip drip requests.

After aip took another 5 weeks approx.
As someone who isn't the most organised with their finances, I found it quite longwinded.
The broker was very good.


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## DublinHead54 (17 Feb 2022)

I'd just like to update that I am having a terrible experience with Avant switching to the point I am going to pull the plug and stick with the higher rate Bank of Ireland. 

They are verging on performing a forensic audit of my entire history going back 10 years, every week there is another request. Despite completing all the mandatory requirements on their application, no history of default. We are two PAYE employees, no complications except apparently living in the UK 8 years ago is a massive complication. It was not a problem for either KBC or Bank of Ireland.

 It is actually at the point I feel they are overstepping the amount of information they can ask for....for example they want a letter from a bank account closed in 2016, despite a credit report showing it close with no arrears (there was a few months of arrears previously). I assumed they only really have remit for the last 3 years?


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## Sarenco (17 Feb 2022)

Yeah, I've heard a few stories recently about the zealousness of Avant's underwriting process.  

I think it's a good thing that lenders are carrying out extensive due diligence these days.


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## Blackrock1 (17 Feb 2022)

i am in the process of switching at the moment so will report back, given the LTV should be in the 25-30% range i am expecting it to be relatively painless!


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## DublinHead54 (17 Feb 2022)

Blackrock1 said:


> i am in the process of switching at the moment so will report back, given the LTV should be in the 25-30% range i am expecting it to be relatively painless!



Good luck! You could be asking for a fiver and they'd still want evidence of where your communion money came from! In all seriousness, be prepared for providing above the normal. 

I think there is due diligence and there is overkill, UK credit report shows no issues or open accounts, but they additionally want evidence of accounts that are closed. The only reason I could provide a UK credit report for myself and wife was by tricking the system and provided an address of a relative in the UK who we have no history at. The report then showed a current address of the UK and despite flagging this when submitting they came back with questions on it! 

If I didn't have the relative I wouldn't have been able to proceed with the switch. 

Just very frustrated at a wasted 3 months of trying to switch. I can only imagine what their customer service would be like.


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## Páid (18 Feb 2022)

I started switching to Avant beginning December 2021 and got approval by phone this morning. That's just over two months.


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## Protocol (18 Feb 2022)

Do you mean two months to get AIP?
Or two months to Loan Offer?


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## Páid (18 Feb 2022)

It's AIP. I got an email from them just now.


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## Protocol (18 Feb 2022)

Here is my timeline:

7-Jan = made first contact with broker
10-Jan = submitted lots of info to the broker
11-Jan = broker replies to say it looks like we meet the criteria, and instructs us to make application via broker website platform, this involves uploading loads of documents
14-Jan = we start process of applying online, and uploading photos and scans of ID, payslips, bank statements, salary certs, etc.
19-Jan = application submitted
26-Jan = broker has reviewed documents, looks for just one more statement
2-Feb = broker replies with AIP


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## CuriousGeorge11 (18 Feb 2022)

I can echo the comments relating to numerous additional requests after receiving approval but I stuck with it and it's taken about an additional month from when my solicitor requested draw down.

We finalised today and are locked in now for the 7 year fixed rate under 60% ltv and its provided great peace of mind


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## nest egg (19 Feb 2022)

CuriousGeorge11 said:


> I can echo the comments relating to numerous additional requests after receiving approval but I stuck with it and it's taken about an additional month from when my solicitor requested draw down.
> 
> We finalised today and are locked in now for the 7 year fixed rate under 60% ltv and its provided great peace of mind


Can you give an idea of the types of additional requests?


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## CuriousGeorge11 (19 Feb 2022)

mojoask said:


> Can you give an idea of the types of additional requests?



I had to contact my life insurance company 4 times to get updated benefits. Perhaps the issue was with the life insurance company.


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## skrooge (19 Feb 2022)

Would be good to get an idea of the  post AIP questions. We all have varied financial history's but you would think once we all get to AIP a lot of the hard work is done. Fair enough there may be property-related issues that need to be addressed but I would not expect my finances to be poured over again if everything progresses in a timely manner. 

Slightly longer timeline than protocol. All documents submitted on the 18th of January. AIP received on the 14th. Valuation taking place on Monday. Apart from questions on the property I'm not expecting any exceptional delays. Slow legal process and the bank might have lost the deeds are of course taken as given...


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## DublinHead54 (22 Feb 2022)

The problems only started for me when I received the AIP, in fact it started after I met their AIP conditions.

Borrowing at 75% LTV, mortgage of 2.5 x income, no other loans etc. Never had any marks on my credit history from loans, the only one bad mark was an unused UK current account that went into overdraft in 2016, it was resolved and account closed. The balance details are shown on the report, showing no more than -20GBP when in arrears before going to 0 and being closed. Avant want a letter from the bank with details.

In addition, all of this is happening at a slow pace with each response leading to more questions. Next I expect them to ask about the 150 euro communion money I deposited in 2004.

At this point, I am shocked that they are unable to make a decision and progress to drawdown. I could continue but with paying a high variable rate the benefits of switching reduce each day. BOI made an offer of 2.6% and I'm still due 1% cashback in a few years, so I am just going to stick with BOI for now.

It doesn't give a good impression that they will be good to deal with for any future mortgage requirements.

Edit: I engaged Broker in November, so this has been a long process


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## skrooge (22 Feb 2022)

Dublinbay12 said:


> Never had any marks on my credit history from loans, the only one bad mark was an unused UK current account that went into overdraft in 2016, it was resolved and account closed. The balance details are shown on the report, showing no more than -20GBP when in arrears before going to 0 and being closed. Avant want a letter from the bank with details.
> 
> It doesn't give a good impression that they will be good to deal with for any future mortgage requirements.



This is the (non-interest rate) price we have to pay in this country to try and get a rate that approaches the average European rate. 

Avant are in the lucky position to pick and choose who they want. 

As annoying as it is unless you've a really small mortgage or are overpaying it at a rate of knots the extra paperwork will be worth it.


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## DublinHead54 (22 Feb 2022)

skrooge said:


> This is the (non-interest rate) price we have to pay in this country to try and get a rate that approaches the average European rate.
> 
> Avant are in the lucky position to pick and choose who they want.
> 
> As annoying as it is unless you've a really small mortgage or are overpaying it at a rate of knots the extra paperwork will be worth it.



Unfortunately, they have lost my business and I've lost out on saving on my mortgage!


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## nest egg (22 Feb 2022)

Dublinbay12 said:


> Unfortunately, they have lost my business and I've lost out on saving on my mortgage!



If you're planning on staying with BOI anyway, why not just let the process run its course with Avant? 
Are they looking for documentation you don't have, or did something in particular happen which has prompted you to pull the plug?


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## DublinHead54 (22 Feb 2022)

mojoask said:


> If you're planning on staying with BOI anyway, why not just let the process run its course with Avant?
> Are they looking for documentation you don't have, or did something in particular happen which has prompted you to pull the plug?



It is unclear how much road is left to run in the process. I am now on a variable rate, so each day I am accruing interest at 4.5% which reduces the financial benefit of switching. It is costing me ~600 euro per month in additional repayments vs my old fixed rate payments.

They are asking for documentation I don't have, and I don't know if I can get at all or without significant time and hassle. This information should not be needed, if they had the ability to adequately assess the information provided to them. I have told them as such, and it has been escalated internally, but we all know how that will go...'it is our internal policy blah blah', so I expect to be pulling the application after 4 months of effort. To be specific, the stumbling block involves a £20 overdraft on an account closed with a 0 balance ~10 years ago, and no red flags in a credit report!

It actually appears like they are doing whatever they can to not lend me money. 

The moral of the story is add on extra time when looking to switch to Avant


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## DublinHead54 (24 Feb 2022)

As a quick update, Avant did move to loan offer stage but I chose to pull the application


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## evil_g (24 Feb 2022)

Dublinbay12 said:


> As a quick update, Avant did move to loan offer stage but I chose to pull the application



That makes no sense.


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## DublinHead54 (24 Feb 2022)

evil_g said:


> That makes no sense.



It did for both financial and non financial reasons, and for clarification they said they would move to loan offer, but I didn't actually get it yet.


Non Financial - The overall experience dealing with Avant left a sour taste and as I will be likely seeking equity release in 2 years I didn't want to risk it.
Financial - Current bank came back with an offer of 2.6% (1,2,3 yr options) vs Avants 2.15% (4 years). When considering costs and cashback over 4 years remaining with BOI results in a 1.5k better result. I also have the option to extend my term with current bank which makes monthly payments lower than Avants.


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## Bolter (24 Feb 2022)

I lent my nephew 2.5k towards college fees. He was paying it back 200 a month. Avant wanted to know who the 200 payment was from and the purpose.
(This was money coming IN to our account)
They had no problem with explanation but I thought it a bit zealous.
I can see how the inability to lengthen term might be a problem.
I think boi allow mortgage run till 70?
Still we got a good rate and fixed for 7 years.


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## Bolter (24 Feb 2022)

Pretty sure Avant allow equity release.


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## Protocol (4 Mar 2022)

Here is my timeline, updated

7-Jan = made first contact with broker
10-Jan = submitted lots of info to the broker
11-Jan = broker replies to say it looks like we meet the criteria, and instructs us to make application via broker website platform, this involves uploading loads of documents
14-Jan = we start process of applying online, and uploading photos and scans of ID, payslips, bank statements, salary certs, etc.
19-Jan = application submitted to broker
26-Jan = broker has reviewed documents, looks for just one more statement
2-Feb = broker replies with AIP
*Loan Offer four weeks after AIP.*


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## scatriona (10 Mar 2022)

I started this switch process in mid January. I received the AIP on 4/2 and received the formal offer from Avant on 1/3, similar to Protocol above.
Just waiting on solicitor to finalise now.


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## Homepayer (14 Mar 2022)

Same, Avant are asking me for incredible amounts of detail on irrelevant items. I'm very disappointed with them, still going through the process since December. 2 PAYE applicants.


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## bluecat (14 Mar 2022)

Currently in the process of switching to Avant, and found them to be very 'nitpicky' about everything too.

First contacted broker in mid-Jan, got loan offer on March 1st. That day the broker contacted me to tell me to contact the solicitor to arrange to sign documents. I contacted them and was told that it would be a couple of days before they had everything from Avant and that they'd contact me once they had it. I haven't heard from them since. 

I did receive a printed copy of the loan offer in the post myself on March 2nd, so I'm sure the solicitor must have received it that week too. Does anyone know how long it usually takes for a solicitor to do this? I don't want to be a pest contacting them about it if this is normal, but would also like to get it done and dusted.


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## nest egg (14 Mar 2022)

bluecat said:


> Currently in the process of switching to Avant, and found them to be very 'nitpicky' about everything too.
> 
> First contacted broker in mid-Jan, got loan offer on March 1st. That day the broker contacted me to tell me to contact the solicitor to arrange to sign documents. I contacted them and was told that it would be a couple of days before they had everything from Avant and that they'd contact me once they had it. I haven't heard from them since.
> 
> I did receive a printed copy of the loan offer in the post myself on March 2nd, so I'm sure the solicitor must have received it that week too. Does anyone know how long it usually takes for a solicitor to do this? I don't want to be a pest contacting them about it if this is normal, but would also like to get it done and dusted.


Depends on your solicitor, some are faster than others. Given the announcement on ICS, I would get on to your solicitor asap and set the appointment to sign it.


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## bluecat (14 Mar 2022)

mojoask said:


> Depends on your solicitor, some are faster than others. Given the announcement on ICS, I would get on to your solicitor asap and set the appointment to sign it.



Thanks, yes I saw that post and that's what had me wanting to get it moving as quickly as possible!


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## Paul F (14 Mar 2022)

bluecat said:


> I don't want to be a pest contacting them about it if this is normal, but would also like to get it done and dusted.


You're paying the solicitor for a service. Don't be afraid to contact them frequently!


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## Protocol (14 Mar 2022)

My case:

Day 1 = Loan Offer received by me in e-mail from broker
Day 6 = Loan Offer received in post by sol
Day 8 = signed Loan Offer in sol's office

Sol hoping for day 13 for drawdown, but I feel that is ambitious.

Day 8 = MPP issued by insurer, and documents sent to mortgage broker


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## bluecat (15 Mar 2022)

Paul F said:


> You're paying the solicitor for a service. Don't be afraid to contact them frequently!


Thanks. Yes you're absolutely right. It's my first time switching, so I honestly wasn't sure whether this time frame was normal, etc. Have contacted them this morning and arranged to go sign everything, so hopefully it'll be all sorted soon.


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## time to plan (16 Mar 2022)

I found Avant OK in terms of detail wanted. They did ask for a fair amount but I'm a proprietary director and my wife is part time sole trader, part time PAYE on an 11 month contract, so their requests didn't seem excessive. Will post timelines when the switch is complete.


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## Homepayer (16 Mar 2022)

I'm almost over the line with Avant but they want my wife's driving licence for this ID Pal app. Is there anyway to get your identity verified without this app complete?


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## time to plan (21 Mar 2022)

Am now stuck getting the title deeds from Bank of Ireland, who happily have me on a variable rate mortgage at the moment. Requested a month ago. Apparently it takes 'several weeks'.


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## rustbucket (26 Mar 2022)

In process myself. 

Started tentative equities with broker end of Nov 21.

Delayed a bit as had to clear second mortgage first but this was made clear to broker from start.

Gathered all paperwork required over that time

AIP at beginning of March

Loan offer 2 weeks ago.

Signed loan offer with solicitor yesterday.

Drawdown imminent (I hope).

Although the process was a bit nit picky re additional documents and questions I thought it was quite smooth. Our broker was excellent and everything was done through online document submission. Really handy.


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## David Silva (28 Mar 2022)

Broker lodged March 3rd, said there is back log. No word back on what seems to be a very straight forward switch. Seems a bit long. Anyone else have to wait this long?


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## nephster (28 Mar 2022)

Our timeline so far (will update when needed)
10 Feb - made first contact with Doddl via online form
12 Feb - contacted by broker
15 Feb - online meeting with broker, begin process of applying online, and uploading photos and scans of ID, payslips, bank statements, salary certs, etc.
22 Feb - application submitted to Avant
1 March - Avant ask for a few clarifications
16 March - broker replies with AIP
25 March - valuation takes place
28 March - valuation received


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## MortgageReady (31 Mar 2022)

Any word yet David? We submitted around the same time to avant via broker and there's been no update


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## ryaner (2 Apr 2022)

We started ours on Jan17th. Every single step has had delays with every promised date being missed. Last Monday the loan offer was 48 hours away, it is now sometime next week.

They requested way more information than was required and I had to refuse some of it. In one case they actually requested bank statements from a business I was a director in. This was even though this business was closed and listed as struck off on the CRO.


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## MortgageReady (2 Apr 2022)

ryaner said:


> We started ours on Jan17th. Every single step has had delays with every promised date being missed. Last Monday the loan offer was 48 hours away, it is now sometime next week.
> 
> They requested way more information than was required and I had to refuse some of it. In one case they actually requested bank statements from a business I was a director in. This was even though this business was closed and listed as struck off on the CRO.


They missed two of their deadlines with us - but we've had no requests for further info - straight forward enough case - and submitted in February- it's crazy slow


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## Paul F (2 Apr 2022)

I wonder if they had a surge of applications from UB and KBC switchers availing of the €1,500 cashback (which is no longer offered)? Or if they just have really high volumes because their rates are the lowest?


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## MortgageReady (2 Apr 2022)

Paul F said:


> I wonder if they had a surge of applications from UB and KBC switchers availing of the €1,500 cashback (which is no longer offerd)? Or if they just have really high volumes because their rates are the lowest?


I'm told they've had a 300% increase in applications- but still promising 10 days for a decision - which hasn't been the case for me - even if they could give an honest timeline I'd be happy - you could plan. But with no inclination of what way it'll go its very annoying.


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## ryaner (2 Apr 2022)

MortgageReady said:


> I'm told they've had a 300% increase in applications- but still promising 10 days for a decision - which hasn't been the case for me - even if they could give an honest timeline I'd be happy - you could plan. But with no inclination of what way it'll go its very annoying.


Same. If at the start they'd said hey, we are busy, it'll take 3 months for the first step rather than the usual 2 weeks, I'd have said fine and planned accordingly. As it stands now, I can't say I'd recommend them.


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## MortgageReady (2 Apr 2022)

ryaner said:


> Same. If at the start they'd said hey, we are busy, it'll take 3 months for the first step rather than the usual 2 weeks, I'd have said fine and planned accordingly. As it stands now, I can't say I'd recommend them.


Exactly - if they'd just said so you could plan it would just be easier- but this constant 'it'll be 19 working days from x date" is not helpful. And especially when so many others are saying they ask for lots of clarifications - I'm concerned that I haven't had any that they are still to come!


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## ThomasT (4 Apr 2022)

How long did you wait from requesting valuation with VMS to actually getting it? Has anyone ever managed to get any response from those valuers?


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## ryaner (4 Apr 2022)

ThomasT said:


> How long did you wait from requesting valuation with VMS to actually getting it? Has anyone ever managed to get any response from those valuers?


I had a phone call within a number of hours and the guy was in the house within 3 days.

You have to use their form along with the reference number otherwise it won't even accept your details. They then assign someone to you so you shouldn't be trying to call them.


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## bluecat (4 Apr 2022)

ThomasT said:


> How long did you wait from requesting valuation with VMS to actually getting it? Has anyone ever managed to get any response from those valuers?


I had a phone call within an hour, then they arrived and did the valuation an hour later!


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## David Silva (5 Apr 2022)

MortgageReady said:


> Any word yet David? We submitted around the same time to avant via broker and there's been no update


Offer in principle received today. Contacted the valuer system so we'll see how long that takes?


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## bluecat (5 Apr 2022)

Here's my rough timeline:

17th Jan - contacted broker
28th Jan - sent all requested docs, some back and forth with questions from the broker
8th Feb - AIP, with list of other requests for info
9th Feb - valuation complete
16th Feb - sent additional docs that were requested
23rd Feb - requested and sent on MPP docs
1st March - loan offer issued
14th Mar - signed with solicitor
25th Mar - mortgage drawn down
1st Apr - welcome letter from Avant, confirming DD date will be 24th of the month (so, day before it's drawn down)


It felt slow to me while waiting at each stage, but it was my first time switching, so not sure if it was actually a long process or if that was normal. I did find they were nit-picking quite a bit, with the things they questioned. I had to send them copies of the kids account statements as well as our own, which I thought was strange. They were also very picky about the way my address was listed on the home insurance policy - I live on the border of two counties. Our eircode is for county A (and therefore that was listed on insurance), but they insisted it be recorded as county B. Insurance company had no problem changing it and reissuing letter though.


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## rustbucket (5 Apr 2022)

After signing loan offer with solicitor last week Avant have come back asking for the solicitor to write a letter confirming they undertake to clear existing mortgage with AIB once Avant money has been drawn down.


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## lovely job (5 Apr 2022)

rustbucket said:


> After signing loan offer with solicitor last week Avant have come back asking for the solicitor to write a letter confirming they undertake to clear existing mortgage with AIB once Avant money has been drawn down.


Doddl actually told me to remind the solicitor when in there as it is regularly forgotten


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## rustbucket (5 Apr 2022)

lovely job said:


> Doddl actually told me to remind the solicitor when in there as it is regularly forgotten


Well hopefully that’s the last thing now. We will see how long drawdown takes


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## IrishGunner (6 Apr 2022)

Wow gone through the process of switching with the broker started the process on the 8th Feb.

After supplying everything bar my mothers maiden name eventually submitted application on the 31st March just on the deadline to get cash back but if we dont get it so be it

However still waiting for response from Avant and broker has said 

With special offer deadline it’s taking up to 3 weeks for approval

I can understand they are swamped with applications but 3 week wait seems excessive?


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## time to plan (11 Apr 2022)

3/11 First contacted broker
10/02 Received Approval in Principle
11/03 Received Mortgage Offer
11/04 Funds received and complete

We are a fairly complex case. I am a proprietary director. My wife is part-time sole trader and part-time PAYE employee on a fixed term contract. I have submitted 38 different documents, on top of what my wife has submitted.

Still, now have a 7 year fix at 1.95% just as the global economy is going into a period of uncertainty.

Two things that unexpectedly held us up at the end:
- Getting deed papers from current lender
- Getting updated benefit statement from mortgage life insurance people.


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## rustbucket (11 Apr 2022)

rustbucket said:


> Well hopefully that’s the last thing now. We will see how long drawdown takes


Broker approached 1/12/21
AIP 22/02/22
Loan offer signed 25/03/22
Mortgage drawn down today 11/04/22


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## nephster (15 Apr 2022)

I know this isn't a general "experiences when switching to Avant" thread, but... perhaps as good a place as any to write the below.
So, our application has failed at the last hurdle. During the (very positive) valuation, I was asked the age of the house, and replied honestly (1880). Turns out that any house over 100 years will require a structural survey with the application - apparently with any lender; and our survey from before we purchased indicates our roof tiles _might _be asbestos. So Avant will not proceed without a definitive answer that they are _not_.
Now, you may be wondering, surely this should have been an issue when purchasing? But the valuer for our original application - working for UB - put the house as being built within 100 years, hence no survey was requested by the lender.
Perhaps the most annoying thing is at no stage in the application was anything mentioned to us about the age of the house being an issue, so I had no reason not to be honest (and frankly I would have had a problem with outright lying, even if it was to our advantage). Plus we are down a few hundred quid due to the valation and an unknown amount to the solicitor we had engaged.


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