Avant Money to pay €1,500 switching fee to Ulster and KBC customers in Q1

Elderflower said:
Is it possible to switch from UB to Avant if you have a mortgage of 59,000?
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Maybe post a separate thread with details of your mortgage in case people have ideas on how you might save with or without switching lenders?
 
Thanks Skrooge!

Got a quote from Ulster bank to break out and it would cost nothing.
I'm guessing solicitor fees would be in and around 1500? so would need to do the maths on if i would save more than this by switching.
Youre probably right though..im on a 2.6% fixed rate currently but also could switch to 2.2% for 2 yrs or 2.35 for 4 yrs within ulster bank. Repayments are 1000pm with 5yrs 4mts remaining.
 
@Elderflower It looks like Avant is a non-runner because of your low balance.

If your BER is B3 or better, your best choice is the 5-year fixed green rate of 2.1% with AIB (assuming your LTV is under 50%). You'll get €2,000 cashback.

If your BER is B2 or better, you can have the Ulster Bank 4-year fixed green rate of 2.25%. But you'd be better off to the tune of about €850 in five years' time by going with AIB, and that's after accounting for solicitors' and valuation fees. (I'm assuming that you'd be moved onto a fairly high PTSB rate after your 4-year UB fixed rate expires.)

If you are not eligible for a green rate, you could go for the AIB 5-year fixed rate of 2.35% (with €2,000 cashback) or the UB 5-year fixed rate of 2.35% (no cashback). The AIB option would leave you better off by about €550 after accounting for fees.

So it comes down to whether the hassle of a switch to AIB is worth those savings to you, or whether you'd be happy with a simple rate change with UB.
 
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Possibly. I only started the process last Wednesday, and they requested more statements for other savings accounts based on my current account outgoings.

Either way, less documentation in any capacity is a good thing. There is too much requested from banks.
 
Does anyone know if you have to have drawn down before the 31st March in order to get the €1500, or what stage do you need to be at by 31st of March to qualify?

We've just got our valuation submitted and will take 10 days (2 weeks or more given the bank holidays) to get approval. Then there's insurance to transfer and solicitor work to get it over the line.
 

End March refers to the date you have to have your application submitted. AFAIK You have until your loan offer expires to draw down
 
The only catch is they would not be required to honour your existing contract, you start new. So if the rate you have isn’t there then I wouldn’t take this
 
mojoask said:
Does anyone know if Avant provide online mortgage account balance information?
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I asked as part of my application - not at the moment. They're apparently working on it but without a definitive rollout date. They do provide online services for credit card customers so there is some hope.
 
Ryan said:
The only catch is they would not be required to honour your existing contract, you start new. So if the rate you have isn’t there then I wouldn’t take this
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Can you clarify what you are referring to here? Your message doesn't seem to relate to the current thread.
 
Paul F said:
Can you clarify what you are referring to here? Your message doesn't seem to relate to the current thread.
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You would effectively be switching to a new deal by accepting the €1500. So if BOI don’t offer a deal that matches what you have already then don’t take it. Someone with a tracker for example
 
Ryan said:
You would effectively be switching to a new deal by accepting the €1500. So if BOI don’t offer a deal that matches what you have already then don’t take it. Someone with a tracker for example
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This €1,500 is only for some Ulster Bank and KBC customers switching to Avant – it has nothing to do with BOI.
 
Any idea how Avant/Brokers deal with partner being on maternity leave from civil service job? i.e. no income/pay slips for past 6 months but it's a civil service job, so clear pay scale and secure position and when back next month back to standard salary.
 

Just been through the process. There was no extra requirements other than they requested a letter from the employer to state that they would be returning to their position. Though in our case, we spread the salary over the unpaid portion of leave, so we did have payslips.
 

I don't have direct experience of maternity leave/benefit, but as PS continue to be paid during 26 weeks maternity leave, surely there are payslips?
 
Protocol said:
I don't have direct experience of maternity leave/benefit, but as PS continue to be paid during 26 weeks maternity leave, surely there are payslips?
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Took the additional 16 weeks unpaid maternity leave after the 26 weeks paid leave (plus then annual leave etc.. makes it longer than 16 weeks in reality)
 
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