Avant Cut Mortgage Rates

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Avant Money cuts its rates and offers cash back as mortgage price war hots up

Avant Money has become the latest lender to cut some of its mortgage rates weeks after the latest reduction in European interest rates.
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This will mean its One Mortgage, where the interest rate is fixed for the life of the mortgage, will have rates starting from 3.4pc, down from 3.8pc.

It is also reducing its three-year rate, down 0.1 of a percentage point to 3.6pc for those borrowing 80pc or less of the value of the home.

Its four-year fixed rate, which is its most popular mortgage product, will see its rate go from 3.6pc to 3.4pc.

The new rates are effective from next Thursday, November 7, with the cash-back incentive coming in from the start of next year.
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Currently there ‘one rates’ were all 3.8 and their fixed rates were mostly 0.2 or 0.1 better, a bit surprising that their best rate is now 3.4 and it’s available for the lifetime of the loan and/or any fixed rate period.

You would have expected their 4 year rate to reduce pro rata to 3.2. They must be putting a major push on the One mortage product.

Certainly it’s great to see a bit of competition in the rates to keep them all honest. BOI will have to move now.
 
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