No mortgage broker suggests Avant, why ?

M

Mangosteen

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New to mortgage market here (not first time buyer, not switching) and contacting brokers but none have suggested a home mortgage Avant. Is there something they know that we don't about Avant?
15 years to retirement so options limited on length of repayment term. LTV is in the <60% category.
Brokers have only suggested these providers - ICS, PTSB, Haven-AIB, BOI (with 1 warning about Ulster & KBC leaving market and that if we went with them we'd face higher interest rates with PTSB & BOI once UB & KBC go). Avant comes up on Switcher site as an option for us but not through any 'human'.

Been contacting brokers who deal with limited no. of providers, can't seem to get a 'whole of market' impartial/independent broker.
Trying to find out all I can but would appreciate any advice/insight of more financially savvy members, please. Thanks.
 
I have recently applied for an Avant mortgage, went onto their website and you can fill out an application where you get your AIP, you can then go onto their site and find a broker in your county!
 
Hi Mango

Avant deals with a very limited number of brokers.
So the brokers you contacted would get no commission if they recommended Avant.

So get AIP and then go to a broker with it.

Brendan
 
You should be able to get a list of brokers on their website and you can contact one of them directly to apply for AIP.
I knew in advance that Avant were the best fit in my situation (second time buyer, LTV below 60%, and needed to keep term as long as possible).
Best of luck
 
There are several possible reasons including:

Avant have a select list of brokers they use, make sure whoever you have been contacting is on the list

Find a broker

www.avantmoney.ie www.avantmoney.ie

Mangosteen said:
Is there something they know that we don't about Avant?
Click to expand...
Assuming you have spoken to a broker on the Avant list, then yes, the brokers know that Avant have been very selective and risk averse in the properties and customers they accept. From what you have told them they may feel you don't meet Avant's criteria

You say you are new to the mortgage market "here". There have been a few examples on AAM where people are UK nationals or spent time in UK and ended up having a lot of difficulty with credit reports and paperwork that in the end it wasn't worth the hassle. The brokers you spoke to might have the same view

Mangosteen said:
15 years to retirement so options limited on length of repayment term. LTV is in the <60% category.
Click to expand...
Your LTV may be good but you don't mention your LTI. If you are looking to borrow a lot relative to your income then the brokers may already know that Avant won't entertain your application. For example an LTI of 3 for a 50yr old is a lot riskier (to Avant) than a 30yr old. So again, it is possible that the brokers are ruling out Avant because they know your application would be rejected

And then there are all the other factors that could make you look like a riskier customer to them which could include being self employed, being a single income family, having several dependents which at your age are potentially looking at expensive 3rd level education or maybe you are planning to live in an rural area that Avant won't approve.

There are many potential reasons that a broker wouldn't recommend Avant to you and if you have a sense of urgency to buy, they may feel it is better to go elsewhere to get AIP quickly
 
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