Avant Money launches a new mortgage today from < 2%

D

Deeks1

Registered User
Messages
18
Just on Breakfast Business on Newstalk this morning. Fixed Rates from 1.95% and Variable from 2.5%. No further detail than that but will be announced today apparently.
 
Here are their fixed rates



Update: Some or most of the brokers are charging an application fee of €500. It's not clear if this is refundable if your mortgage is not approved.

It doesn't say it on its website, but you will also be able to have part of your mortgage variable
< 70% LTV : 2.5%
>70% LTV: 2.75%

Switchers, movers and first-time buyers will be able to avail of these new products exclusively through a number of Ireland’s leading mortgage brokers from today.



Mortgages will be available to all customers, subject to the normal Central Bank of Ireland lending rules on loan-to-value and loan-to-income. Appointed mortgage brokers will be ready to guide customers on the range of Avant Money products and the various lending rules that apply.

  • Mortgages are available on homes that are the primary dwelling (i.e. not for investment buy-to-let properties)
 

Attachments

  • 1600065372772.png
    49.9 KB · Views: 642
Last edited:
Avant is very good value at <60% LTV. Anyone who qualifies for this should consider switching to Avant.



Anyone with an LTV over 60% can get a lower effective rate through one of the cash back lenders

 

Attachments

  • 1600065372772.png
    49.9 KB · Views: 473
  • 1600068186582.png
    8.6 KB · Views: 470
Last edited:
I understand that Avant will be quite selective in their underwriting.

And as they say in their press release:

  • Stable employment with no obvious risk to future employment prospects

They also have geographic limitations

Currently, they are Dublin county plus any town within 30km of Dublin county border, Cork city plus locations within 30km of Cork city centre, Galway city plus locations within 30km of Galway city centre, Limerick city plus locations within 20km of Limerick city centre and Waterford city plus locations within 20km of Waterford city centre.
source


Brendan
 

Attachments

  • 1600065372772.png
    49.9 KB · Views: 490
  • 1600068186582.png
    8.6 KB · Views: 496
  • 1600071251598.png
    20 KB · Views: 469
  • 1600072172938.png
    34.5 KB · Views: 473
Last edited:
Nice! Welcome Avant! Can you overpay any of the fixed without penalty?
 
Appointed BrokersLocationWebsite
Affinity AdvisorsDublin 2affinityadv.ie/
All FinancialsDublin 5allfinancials.ie/
DoddlDublin 2doddl.ie
Dowling FinancialDublin 3dowlingfinancial.ie/
DSOB Financial ServicesDublin 7None
Finance OneDublin 2financeone.ie/
Financial SolutionsCo. Dublinfinancesolutions.ie/
First Rate Financial PlanningDublin 15www.firstrate.ie
Frank Lenny FinancialDublin 2franklenny.com/
Howth Financial ServicesCo Dublinhttp://www.howthfinancial.ie/ (www.howthfinancial.ie)
Irish Mortgage BrokersDublin 1mortgagebrokers.ie/
Irish Mortgage CorporationDublin 2irishmortgage.com/
MMPIDublin 4mmpi.ie/
MortgagelineDublin 9
MymortgagesCorkmymortgages.ie/
Park FinancialDublin 12parkfinancial.ie/
Prendergast MaguireCo. Wicklow[broken link removed]
Sherry Fitzgerald Financial ServicesDublin 1sherryfitz.ie/financial-services
Vision Financial Solutions LimitedDublin 6visionfinancial.ie/
 
Good interview by Brian Finn with the CEO of Avant Money

1) No requirement to buy mortgage protection or insurance from Avant to get these rates. The CEO said "I don't know where that idea has come from?"
2) They have invested a lot in this project and so they want to make a big splash - they will not be cherry picking. They will not be limiting it to public servants and some professionals.

He also said something like "Ireland has the highest rates in the eurozone after Greece and Latvia. There is no reason for that."

Brendan
 
Any other t&c. I see that one needs to Also have a deposit of 40% to avail of rate as a FTB or switcher.
 
Brendan Burgess said:
1) No requirement to buy mortgage protection or insurance from Avant to get these rates. The CEO said "I don't know where that idea has come from?"
Click to expand...

I had posted that here, based on their business model in Spain.

I wonder do RTE read AAM?
 
7-Year Fixed Rate @1.95%, with no arrangement fees.

That's a bit of game changer for low-LTV mortgages.

It's great to see some real competition at this end of the mortgage market.
 
I think they missed an opportunity to bring 10 year and 15 year fixed rates at 2.5% or lower. THAT would have been a game changer. 0.2% difference in what is on the market already is not much of a game changer but at least it gives a competitive offering that will keep rates down generally
 
You must log in or register to reply here.
Menu
Log in
Register