Avant Mortgage - new mortgage time line experience?

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Finally got AIP today but just have to confirm the rate and term so where can i see these and whats best to choose obviously each offer depends on applicant but in general what are best options

Have to get them to value the house but cant choose it have to go through them and its Eur 185. However they require the Ber rating. So house renovated so do we have to pay for another Ber rating
 
IrishGunner said:
Finally got AIP today but just have to confirm the rate and term so where can i see these and whats best to choose obviously each offer depends on applicant but in general what are best options

Have to get them to value the house but cant choose it have to go through them and its Eur 185. However they require the Ber rating. So house renovated so do we have to pay for another Ber rating
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They will likely have provided you with a repayment schedule based on their current rates and term.

You can always do your own calculations based on the loan amount and the rates on their website. Not sure it's a hard rule for all but when it comes to the term they generally match the remaining term of your existing mortgage.

BER certs are valid for 10 years. So if you have one, even an old one I imagine that will do. Unless your ltv is very marginal it's probably not worth getting the BER updated - even then I'm not sure it will make much difference. I don't remember being asked for one during the valuation process.
 
skrooge said:
They will likely have provided you with a repayment schedule based on their current rates and term.

You can always do your own calculations based on the loan amount and the rates on their website. Not sure it's a hard rule for all but when it comes to the term they generally match the remaining term of your existing mortgage.

BER certs are valid for 10 years. So if you have one, even an old one I imagine that will do. Unless your ltv is very marginal it's probably not worth getting the BER updated - even then I'm not sure it will make much difference. I don't remember being asked for one during the valuation process.
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They have the property value, Loam amount , Loan to value, Customer equity and Term 17yrs. The interest rate is 2.05% and product is 3 year fixed >60% <70%

So going on this are they only giving us 3 years fixed?

However broker has asked us to confirm the rate and term we require?

They have also asked us for a most recent form 11 regarding rental income on house we have rented. However take this would be for 2021 which we provided already
 
Whatever about term they should be reasonably happy for you to fix for a different duration if you want.

Ireland’s lowest mortgage rates

Whether switching or purchasing, get Ireland’s lowest fixed rates from as low as 1.95%, only from Avant Money.
www.avantmoney.ie www.avantmoney.ie

As for which is best it comes down to a mix of the rates of offer and your own personal circumstances.
 
skrooge said:
Whatever about term they should be reasonably happy for you to fix for a different duration if you want.

Ireland’s lowest mortgage rates

Whether switching or purchasing, get Ireland’s lowest fixed rates from as low as 1.95%, only from Avant Money.
www.avantmoney.ie www.avantmoney.ie

As for which is best it comes down to a mix of the rates of offer and your own personal circumstances.
Click to expand...

Went for 7 years and booked the valuation. The valuation just asked for Ber rating no cert required can only use their valuation team https://www.vmsireland.ie/

They are still looking for more forms before drawdown and now we need Irish Revenue to get one tax form and further payslips and bank statements again

Also we will get the 1.5 for switching

After drawdown of this mortgage a one off payment of €1,500 will be made into the account
used to service the mortgage. Payment will be made within 2 months of drawdown. This
payment is a fixed €1,500 and will not vary if your actual costs associated with switching are
higher or lower. Offer is made on the basis that you have met the eligibility criteria previously
provided to you, which includes that you must be switching your mortgage from either Ulster
Bank Ireland Limited or KBC Bank Ireland plc. Mortgage must be drawn down within 6 months
of the date of this offer letter
 
On this we still pending drawdown from Avant but we have the AIP and gone for 7 year rate

Our solicitor has the title deeds however they saying the below

The process takes approx. 2-3 months in total to be completed.
Unfortunately it will not be possible to drawdown before the 15th July.

So take it that we will get the higher rate with the increase from the 15th July and nothing we can do about it?

Even with increase, and having not looked at comparison charts, how does increase compare to other options out there?
 
IrishGunner said:
Even with increase, and having not looked at comparison charts, how does increase compare to other options out there?
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@IrishGunner Consider posting your mortgage details in the switcher thread (in the format shown in the first post). I'll estimate the savings you would make from switching to another lender.

The "2-3 months in total" probably refers to the entire switching process. Have you completed many steps beyond getting AIP?
 
Last edited:
Paul F said:
@IrishGunner Consider posting your mortgage details in the switcher thread (in the format shown in the first post). I'll estimate the savings you would make from switching to another lender.

The "2-3 months in total" probably refers to the entire switching process. Have you completed many steps beyond getting AIP?
Click to expand...

Thanks

Posted in switcher thread

Yes all forms etc uploaded and Avant just waiting for Form 11 from Revenue as Miss Gunner old house rented out. Management company looks after most stuff but still need to get this form online and not the easiest to understand

Solicitor has deeds from UB and Avant just looking for nothing else other than form 11 before issuing details to Solicitor
 
Hi All,

New to the forum. I have been following as I had applied to Avant on 1/3/2022 for mortgage switch and was worried about getting draw down on time (Fixed 10yrs @ 2.1% with avant, Previous UB 5Yrs Fixed @2.2%).

Refused on 29/4/22 - we looked to reduce term and increase payment but as we weren't planning on changing (in fixed term) and have been completing large garden renovations we were refused on affordability. Straight away applied for straight switch.

Additional Docs Request on 17/5/2022

AIP 20/5/22

Loan Offer 16/6/2022 (while we were away)

Signed all docs with solicitor 21/6/2022

Loan Drawdown 30/6/2022

These timelines might give some hope to others waiting on switch/drawdown.

Overall delighted to have gotten draw down of funds before deadline, time will tell if 10years was the right call but #### me this is my 4th mortgage switch in 5 years (1st mortgage EBS, switch BOI & UB) and it was torture.
 
Got AIP 2 weeks ago but had to supply them with a tax form which we have only managed to get now

Avant have to issue a loan offer and legal pack to our solicitor (takes approx. 2 weeks) once we sign documents with our solicitor and they send them back to the bank funds should issue in 5 working days

Also rate we are getting is 7 Year 2.25% we think

Its been emotional, stressful and a couple of shouting matches but hopefully finishing line in sight:cool:
 
Our loan offer issued on Monday evening from avant. Solicitor sent signed documents to avant yesterday. Broker telling me they can’t see the documents on the avant system yet today and because it takes 5 days for funds to clear we in all likelihood will miss the cut off for drawdown of 15th July. Not a good experience so far with Avant.
 
_ripped_off said:
Our loan offer issued on Monday evening from avant. Solicitor sent signed documents to avant yesterday. Broker telling me they can’t see the documents on the avant system yet today and because it takes 5 days for funds to clear we in all likelihood will miss the cut off for drawdown of 15th July. Not a good experience so far with Avant.
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My solicitor issued the signed docs back to Avant yesterday. My solicitor got some notification to say the documents were delivered to Avant this morning. We now have to wait for Avant to scan them onto their system and process them.

My broker had told me all paperwork had to be with Avant today to ensure drawdown by 15th.

I am assuming I will still get the requested rate 1.95 as I have done everything Avant have requested. If Avant are too busy that is their issue.

My broker says he has 12 such cases with Avant at the moment, but guesstimates there could be 100 times that amount hitting Avant this week. He is working with Avant stating clearly that the signed docs got to Avant by the deadline of 8th July, to allow for drawdown by 15th.

I would expect/hope Avant to honour your loan offer, as I expect/hope them to honour mine also.
 
Landscape said:
My solicitor issued the signed docs back to Avant yesterday. My solicitor got some notification to say the documents were delivered to Avant this morning. We now have to wait for Avant to scan them onto their system and process them.

My broker had told me all paperwork had to be with Avant today to ensure drawdown by 15th.

I am assuming I will still get the requested rate 1.95 as I have done everything Avant have requested. If Avant are too busy that is their issue.

My broker says he has 12 such cases with Avant at the moment, but guesstimates there could be 100 times that amount hitting Avant this week. He is working with Avant stating clearly that the signed docs got to Avant by the deadline of 8th July, to allow for drawdown by 15th.

I would expect/hope Avant to honour your loan offer, as I expect/hope them to honour mine also.
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Thanks for replying Landscape good to know others are in the same boat. Unfortunately it’s been radio silence from the solicitor today so not sure if he has received the confirm from avant that they received the documents.
I didn’t realize that the documents had to be with them today and again solicitor was slow/hard to contact to confirm he was in possession of the documents for us to sign. I feel like they could have been with avant a day earlier.
However reading your response makes me think the delay is actually on the avant side as they have such a huge volume to process.
Fingers crossed they honor the rate prior to increase.
 
Is the 8th of July cut off across the board or just with Avant. We have a letter of offer on its way to the solicitor and he has the deeds from the bank. Switching to AIB Green rate from BofI
 
redwellies said:
Is the 8th of July cut off across the board or just with Avant. We have a letter of offer on its way to the solicitor and he has the deeds from the bank. Switching to AIB Green rate from BofI
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It's for specific loan offers with Avant only. I don't know any specifics re AIB.
 
_ripped_off said:
Thanks for replying Landscape good to know others are in the same boat. Unfortunately it’s been radio silence from the solicitor today so not sure if he has received the confirm from avant that they received the documents.
I didn’t realize that the documents had to be with them today and again solicitor was slow/hard to contact to confirm he was in possession of the documents for us to sign. I feel like they could have been with avant a day earlier.
However reading your response makes me think the delay is actually on the avant side as they have such a huge volume to process.
Fingers crossed they honor the rate prior to increase.
Click to expand...
Hi Ripped Off,

Did you get drawdown from Avant in the end this week?
I'm still waiting on mine,

L
 
_ripped_off said:
Thanks for replying Landscape good to know others are in the same boat. Unfortunately it’s been radio silence from the solicitor today so not sure if he has received the confirm from avant that they received the documents.
I didn’t realize that the documents had to be with them today and again solicitor was slow/hard to contact to confirm he was in possession of the documents for us to sign. I feel like they could have been with avant a day earlier.
However reading your response makes me think the delay is actually on the avant side as they have such a huge volume to process.
Fingers crossed they honor the rate prior to increase.
Click to expand...
Our mortgage funds issued yesterday from Avant so we made the July 15th deadline by the skin of our teeth.
When we first drew down the mortgage for our current property 5 years ago we were paying 3.15% and 3.85% on a 50/50 split fixed and variable mortgage with AIB.
With a lot of help from this page now paying 2.05% fixed for the next 7 years.
Happy weekend!
 
Landscape said:
Hi Ripped Off,

Did you get drawdown from Avant in the end this week?
I'm still waiting on mine,

L
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Great minds we both posted here at the same time. I hope your funds issue soon. I’m sure they will still honor the interest rate as delays appear to have been from their side and they’d have to go through re issuing all the documents etc again if they are changing the rate.
 
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