Successive Cashback Switching finishing on Avant

[smndly]

Hi,

I'm considering doing a cashback switching plan with three rapid switches to avail of some cashback offers which SeanOg popularised on this site.

My plan is go from UlsterBank, my current provider, to EBS for 2% cashback, to BOI for 2% cashback and then to Avant to avail of their 5 or 7 year low fixed rates. I'd hope to do this within a few months. I'm aware there is a risk of interests rates rising while I'm doing this but i'm happy to accept the risk.

I was wondering if the Avant switch will be an issue as it has to be done through a broker? Will the broker have a problem with the multiple switches done the weeks before the switch to Avant? Has anyone done multiple switches which finish with Avant successfully? Thanks

 

[nest egg]

Hi,

I'm considering doing a cashback switching plan with three rapid switches to avail of some cashback offers which SeanOg popularised on this site.

My plan is go from UlsterBank, my current provider, to EBS for 2% cashback, to BOI for 2% cashback and then to Avant to avail of their 5 or 7 year low fixed rates. I'd hope to do this within a few months. I'm aware there is a risk of interests rates rising while I'm doing this but i'm happy to accept the risk.

I was wondering if the Avant switch will be an issue as it has to be done through a broker? Will the broker have a problem with the multiple switches done the weeks before the switch to Avant? Has anyone done multiple switches which finish with Avant successfully? Thanks

Avant can be very picky, and no doubt will look for up to date documentation before drawdown. Whether they would refuse at the last minute because of a multi-switch I can't say. Why don't you call up any Avant broker and ask them?

 

[smndly]

Thanks for the reply. I am thinking of not telling the broker or avant about the previous switches similar to what others have done with the three direct to bank switches. Would the Broker or avant be able to find out about the switches do you think?

 

[nest egg]

Thanks for the reply. I am thinking of not telling the broker or avant about the previous switches similar to what others have done with the three direct to bank switches. Would the Broker or avant be able to find out about the switches do you think?

Why don't you call up a different broker in that case? They all should know the lie of the land.

 

[Dave Vanian]

Thanks for the reply. I am thinking of not telling the broker or avant about the previous switches similar to what others have done with the three direct to bank switches. Would the Broker or avant be able to find out about the switches do you think?

Part of any mortgage application is a 12-month mortgage statement in respect of your existing mortgage. So the broker and Avant will know you've been switching multiple times when you can't produce this.

 

[smndly]

Part of any mortgage application is a 12-month mortgage statement in respect of your existing mortgage. So the broker and Avant will know you've been switching multiple times when you can't produce this.

What Has been done by others on this site before is to do all the applications at the same time and provide the 12 month mortgage statement then. Then when you receive AIP by the different lenders change from one to the other in quick succession.