Is Avant the best mover mortgage - 207K loan, 21 years fix at 1.95

[dubdub123]

I'm looking to move home (from rural ireland to dublin) and the broker I am dealing with has recommended the following ( asplanning to keep LTV less than 60%):

Lender: Avant Mortgages
Max Amount: 207K
Max Term: 21 years (they lend to 70)
Interest rate fixed 3/5/7 years: 1.95%
Overpayment option of 1% of initial loan per year (so approx 2,070 pa over payment)

I ultimately may draw down less but for now I'm looking at this amount to compare lenders.

Are there any better options? I'm aware I may switch in the future however I'm concerned that this may not be as likely if lenders change any rules around this and being honest I'm not sure I want to risk potentially being stuck in higher interest rate that I can't get out of later.
I'd prefer to keep variable rate but it's not available with Avant up front so would need to complete fixed term or break out I suppose.

Is Avant the clear front runner here ? Should I consider other options?

Any input really appreciated !

 

[skrooge]

Ignoring the benefits of switching (€ashback) and assuming you're not going to be a position to aggressively overpay large sums to significantly reduce your term then yes Avant are a market leader.

If you can aggressively overpay there is a point where the cashback is of more benefit than the interest rate but it would be the exception in most cases.

 

[Brendan Burgess]

Yes, I think that Avant is clear. It will probably remain competitive and you won't need to switch again.

You could switch a few times to max the cash back, but for a simple mortgage, go with Avant.

Don't worry about it being a fixed rate. The way break fees are calculated, it's very likely that there will be no break fee for breaking early. Or if there is one, it will be quite low.

If competition hots up and some other lender offers 1.4% fixed, then you could switch.

Brendan