Thanks for that Supermario.I have started the process of switching my mortgage. My broker has provided the attached document with the terms and conditions of the offer.
As Paul mentions above I am very surprised Avant aren't making a big splash about this offer.
What is the outstanding balance on your mortgage? What is your property worth? When did you fix with KBC (month and year)?I'm with KBC on a fixed rate of 3.8% till mid 2023 but I'm considering this switch. The break fee quoted to me today was 1990 euro. Is it worth it for me?
Do I have to have a certain LTV to be eligible? and would the lower rates & cashback on offer make it worthwhile over long-term? (I've about 19yrs of mortgage left to Go!!)
Thanks!
Hi PaulWhat is the outstanding balance on your mortgage? What is your property worth? When did you fix with KBC (month and year)?
Yes, definitely 3.8 unfortunately@scatriona Are you sure your rate is 3.8%? It seems very high for 2018.
Hi Paul
Mortgage Balance is 180k
Place currently worth 220-225k...
July 2023 is when the 5 yr fixed rate is up.
I read in pdf above that Avant require 80% LTV which I just about might have.
Thx, Scat
If you can get a valuation of €225k or above, you will be eligible for Avant's 2.15% rates, which you can fix for up to 7 years.Mortgage Balance is 180k
Place currently worth 220-225k...
July 2023 is when the 5 yr fixed rate is up.
Thanks for that Paul F, i think it's worthwhile as mortgage ends in 2043 so that's a huge saving in long-run.If you can get a valuation of €225k or above, you will be eligible for Avant's 2.15% rates, which you can fix for up to 7 years.
If you switch to that 2.15% rate, you will save €180,000*(3.8-2.15)/100 = €2,970 in interest per year.
There will be solicitors', valuation and break fees of about €(1,300 + 185 + 1,900) = €3,385 but that is a one-off cost, and Avant will pay you €1,500 to switch (provided you use a broker who is an Avant "Gold Partner").
If you get a valuation that is a little below €225k and you have some spare cash, you can overpay your KBC mortgage (probably without penalty) to bring your LTV below 80%. E.g., if you get a valuation of €220k, you will need to reduce your mortgage balance to €176k to be eligible for Avant's 2.15% rates.
I am using Doddl ..... its an excellent service and platform.
Especially handy if you have no savingsSeconded. The Doddl.ie online platform is light years ahead of how I have seen with how documentation managed for mortgage applications in the past. Everything is digital and online based with Doddle.ie. Signatures are via Docusign. The staff are also quite responsive.
Interestingly Avant Money have uniquely reduced the documentation that they need for a mortgage application. They do not require savings accounts statements which is handy.
Seconded. The Doddl.ie online platform is light years ahead of how I have seen with how documentation managed for mortgage applications in the past. Everything is digital and online based with Doddle.ie. Signatures are via Docusign. The staff are also quite responsive.
Interestingly Avant Money have uniquely reduced the documentation that they need for a mortgage application. They do not require savings accounts statements which is handy.
I'm currently going through the application for Avant with Doddl and had to supply savings accounts.
Is it possible to switch from UB to Avant if you have a mortgage of 59,000?
When PTSB take over Ulster bank mortgage I'm aware the fixed rate will stay the same until it was originally meant to end.
But just wondering is the ability to overpay by 10% still going to be an option with PTSB?
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