Avant online portal

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gargoil7

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Just switched to Avant & now I feel a bit in no-man's land now that the broker's remit is complete. Eg it's unclear what my direct debit date will be, if/how to track mortgage balance/term or where to make overpayments. I'll give Avant a call tomorrow of course but for existing Avant customers here:

1. Do Avant have an online portal yet for mortgage holders (like they do for their credit card & personal loan customers at my.avantmoney.ie) or does anyone know the ETA for such a portal? If they don't have a portal that would be strange as most (all?) other banks have one, even with basic features & it would reduce call volume.

2. How long after drawdown did you receive any correspondence/documentation from Avant, if at all (we just got the loan offer, little to nothing else)?

3. What process did you need to follow to make an overpayment?

4.What's your overall experience been like with Avant to date? (I anticipate a Ryanair-like service & that's ok in part given the rate I guess but at least Ryanair have a good online presence).
 
1. Don't have an online portal for mortgages. KBC don't either

2. About 2 weeks after drawdown I got a letter. The DD date is 1 day short of a month after drawdown. e.g. if you drew down on the 10th, the DD date is the 9th

3. Haven't done an overpayment yet

4. Haven't been with them long enough to say. But the switch process was fairly straightforward
 
lovely job said:
1. Don't have an online portal for mortgages. KBC don't either

2. About 2 weeks after drawdown I got a letter. The DD date is 1 day short of a month after drawdown. e.g. if you drew down on the 10th, the DD date is the 9th

3. Haven't done an overpayment yet

4. Haven't been with them long enough to say. But the switch process was fairly straightforward
Click to expand...
Thanks, good to know. Hopefully they get an online portal at some point.
 
gargoil7 said:
3. What process did you need to follow to make an overpayment?
Click to expand...
I'm not a customer of Avant's so I can't offer any info apart from pointing out that you can only make a maximum of two overpayments per calendar year:
1. The Overpayment Allowance
1.1 If your loan is on a fixed rate of interest, you will not incur an early
redemption fee if you partially repay your loan early provided that:
(i) you only make up to two payment(s) in any calendar year over and
above the scheduled monthly payment instalments; and
(ii) the total of these overpayment(s) does not exceed a maximum of 10%
of the loan balance as at:
• 1st of January of the calendar year in which the early repayment(s)
are made, or,
• the date of drawdown if the early repayment(s) are made in the first
calendar year of the loan (the “Overpayment Allowance”).
Click to expand...
 
lovely job said:
1. Don't have an online portal for mortgages. KBC don't either

2. About 2 weeks after drawdown I got a letter. The DD date is 1 day short of a month after drawdown. e.g. if you drew down on the 10th, the DD date is the 9th

3. Haven't done an overpayment yet

4. Haven't been with them long enough to say. But the switch process was fairly straightforward
Click to expand...
Thanks. Do you know if it's possible to arrange a different direct debit date?
As going on above, mine will be at end of month which I'm not too keen on...:confused:
 
Spoke with Avant Customer Services

0. Date of 1st direct debit after drawdown: one month after drawdown, less 1 day. The 1st monthly payment date is not changeable.
Subsequent direct debit dates are changeable. Process: write in to Avant with instructions. How: Scan a letter with the mortgage account number, the preferred DD date & the signatures of all mortgage holders & email to customerservices@avantmoneymortgages.ie
Note: the mortgage account number is a different number than the application account number on the loan offer, which is no longer used after drawdown.

1. Online portal: None. In pipeline, no ETA (but that has been the status for a while now). Workaround: use Karls Mortgage Calculator

2. Correspondence turnaround after drawdown: Welcome Pack typically arrives about 10 days after drawdown. Includes overpayment a/c details

3. Overpayment: per the The Overpayment Allowance pasted here.
No monthly overpayments. Workaround: save the amount that you would otherwise overpay monthly into a separate account & make 1 or 2 lump overpayments per year in line with the overpayment allowance terms.

Hope this helps.
 
gargoil7 said:
Spoke with Avant Customer Services

0. Date of 1st direct debit after drawdown: one month after drawdown, less 1 day. The 1st monthly payment date is not changeable.
Subsequent direct debit dates are changeable. Process: write in to Avant with instructions. How: Scan a letter with the mortgage account number, the preferred DD date & the signatures of all mortgage holders & email to customerservices@avantmoneymortgages.ie
Note: the mortgage account number is a different number than the application account number on the loan offer, which is no longer used after drawdown.

1. Online portal: None. In pipeline, no ETA (but that has been the status for a while now). Workaround: use Karls Mortgage Calculator

2. Correspondence turnaround after drawdown: Welcome Pack typically arrives about 10 days after drawdown. Includes overpayment a/c details

3. Overpayment: per the The Overpayment Allowance pasted here.
No monthly overpayments. Workaround: save the amount that you would otherwise overpay monthly into a separate account & make 1 or 2 lump overpayments per year in line with the overpayment allowance terms.

Hope this helps.
Click to expand...
Assuming you change from say the 10th to the 20th of the month, I presume you'll incur 10 days additional interest the first time you make the change?
 
mojoask said:
Assuming you change from say the 10th to the 20th of the month, I presume you'll incur 10 days additional interest the first time you make the change?
Click to expand...
I assume so but if on a fixed rate with resulting fixed monthly contractual payments I don't see what net effect this change would have. The extra 10 days interest would just accumulate on the balance, no?
 
gargoil7 said:
I assume so but if on a fixed rate with resulting fixed monthly contractual payments I don't see what net effect this change would have. The extra 10 days interest would just accumulate on the balance, no?
Click to expand...
Presumably, I've no direct experience though, perhaps someone else here has
 
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