Avant Mortgage - new mortgage time line experience?

We got details in the post yesterday and was in with solicitor to sign off. Required LPT tax confirmation paid and life assurance details before sending to Avant

Was told by solicitor Avant slow issuing funds.

What is users wait time before funds received

Ok just for anyone who is interested Avant will cause you nightmares and worse the Freddy Krueger

The amount we are getting is €538 above the amount that is on our life policy we got when we took out mortgage with Ulster Bank. Avant cannot waive anything over €500 and due to our ages would need to get new policy. So went back asking Avant to reduce the amount by this amount

Also No extensions etc to house but Garage was converted when we bought it (2 years ago) On House valuation done by Avant it stated 'For Previous alterations to the property may require compliance, permission or approval' they have yes. So our solicitor checking to see if they have Cert on file from previous owner but solicitor cannot find it and Ulster Bank never asked, nor did our solicitor ask us, for this based on my recollection

So not sure if its a FU by the solicitor as to get an Architect out is €300 to get this Cert

Also need to add Avant as interested party to House Insurance. That was easiest thing to do

We started this process in Mid March and have AIP but still not drawdown

If you suffer from any Stress be prepared when going with Avant there is scrupulous accounting done from every dot to every penny

Based on the latest info from Avant they are now turning around 'clean applications' (those that don't have any issues with docs or credit) in 7 working days and getting the loan offers out in less than 24 hours. Seems like they have got on top of the resourcing issues they had earlier in the year. They are still super picky though on applications, that's where any delays are likely to come from now in applications and loan offers. The best thing to do therefore is make sure your brokers and solicitor are all over the details.

Mark1892 said:

Based on the latest info from Avant they are now turning around 'clean applications' (those that don't have any issues with docs or credit) in 7 working days and getting the loan offers out in less than 24 hours. Seems like they have got on top of the resourcing issues they had earlier in the year. They are still super picky though on applications, that's where any delays are likely to come from now in applications and loan offers. The best thing to do therefore is make sure your brokers and solicitor are all over the details.

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Many of the delays in this thread relate to the finalisation of the loan pack. Not the time it's taking to move from pack finalisation to receipt of loan offer.

Given you are closer to Avant than most of us here, how long does it take a typical Avant loan pack to be finalised (by broker, customer and avant) so that a finalised loan pack is moved to loan offer processing relative to other lenders?

So still waiting for the drawdown

Due to the life assurance valve short €538 Avant would not accept it nor would they reduce mortgage amount by this much as it would be new application

That really P us off. We had to get a new policy and its €20 cheaper so some good out of it.

Garage conversion into living space needed to get an architect in. Another €300 spent. As window looking out onto drive this requires planning permission. Also height from the floor to ceiling was 50mm to much. Architect could not issue cert

Solicitors saying we should have checked this before buying we are saying Solicitors should have got this from sellers solicitor. So eventually found cert from builder renovation done back in 2019.So it falls out of the statue of limitations and thus Architect can issue the cert.

Now cert is with Avant legal teams for review and cut off time fast approaching.

Anyone any experience with time limits legal team in Avant take when reviewing do. thanks

My experience wasn't too bad with Avant once the broker had all the docs and sent them in. It took less than a week to drawdown the funds.

However, it took about 8 weeks for them to send out the loan offer in the first place.

And once the initial loan offer was received, there were a few changes that took about 3 weeks. That included revising the loan amount and getting a new loan pack sent out, and changing the address on the home insurance to match the loan address exactly, getting an updated mortgage protection statement, latest payslips and direct debit forms. Probably could of done that faster, got into high gear when the rates went up and sorted it in a few days.

So in total about 12 weeks from initial application to drawdown.

We applied back in mid March and still pending drawdown

it's been emotional to say the least

I applied first week of January. I've been fast enough with any paperwork that's been requested and still no drawdown.

Will give a more detailed post soon but all docs were sent from broker to avant around 16th June. There was a small amount of queries, got loan offer 10th August and funds released around seven days later

oceallachain said:

I applied first week of January. I've been fast enough with any paperwork that's been requested and still no drawdown.

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delta_bravo said:

Will give a more detailed post soon but all docs were sent from broker to avant around 16th June. There was a small amount of queries, got loan offer 10th August and funds released around seven days later

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Bizarre that the timelines could be so different. It would be good to get a sense of the cause of @oceallachain's delays. Problems with title? Insurance? Other issues? And what queries @delta_bravo received.

Paul F said:

Bizarre that the timelines could be so different. It would be good to get a sense of the cause of @oceallachain's delays. Problems with title? Insurance? Other issues? And what queries @delta_bravo received.

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Queries were minimal enough. Wife's employment was queried as she worked in the same role for many years but moved from privately paid to government paid but wasn't yet technically permanent and they were asking for a letter confirming she would be employed continuously. This was a real challenge to obtain from civil service so in the end they accepted a load of new and old payslips to prove tenure. Otherwise it was fine. We wanted (and got) a <60% LTV and I'm not sure if they prioritise those over higher LTV?

Paul F said:

Bizarre that the timelines could be so different. It would be good to get a sense of the cause of @oceallachain's delays. Problems with title? Insurance? Other issues? And what queries @delta_bravo received.

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There was a query over a right of way but that was rectified/explained quite fast. I thought insurance would be a nightmare but it was quite easy.
The title was a different story - had to change folios from my sole name to both names to include wife. But still, that only came up in July. It was sorted in a few weeks.

Now Avant are saying they didn't get final documents yet. My solicitor is saying they were sent 17th August. Solicitor got onto DX who said Avant have two large DX boxes which are wedged with stuff. We then sent another copy last week.

My optimism is gone despite 60% equity in house. I thought this would be handy enough.

oceallachain said:

There was a query over a right of way but that was rectified/explained quite fast. I thought insurance would be a nightmare but it was quite easy.
The title was a different story - had to change folios from my sole name to both names to include wife. But still, that only came up in July. It was sorted in a few weeks.

Now Avant are saying they didn't get final documents yet. My solicitor is saying they were sent 17th August. Solicitor got onto DX who said Avant have two large DX boxes which are wedged with stuff. We then sent another copy last week.

My optimism is gone despite 60% equity in house. I thought this would be handy enough.

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Sounds dreadful!

But you started the switch back in January. Were there weeks where nothing happened, maybe in the early months?

Paul F said:

Sounds dreadful!

But you started the switch back in January. Were there weeks where nothing happened, maybe in the early months?

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Absolutely. I applied early January, received AIP 4th April, received loan offer 20th June.
It took until late July for Avant to ask for folios to be put in both our names which we did 2-3 weeks later. I can honestly say that there was no delays on side.

I have opened a new thread for more recent experiences.


From speaking to brokers, Avant got inundated with switchers from Ulster and KBC and have now got their act together.

Broker said
Haven the worst - very slow.

Avant - now fast.

BoI - the fastest.

Brendan