Who are Avant Money?
Avant Money are owned by Spanish Bank, Bankinter, and offer mortgages in Ireland since September 2020. They currently offer some of the lowest rates in the Irish market and offer unique long term mortgage rates under their One Mortgage product offering.
Avant Money currently offer their mortgages exclusively through doddl and select brokers.
What is Avant Money’s One Mortgage?
Avant Money’s One Mortgage rate is a whole of term fixed rate mortgage, as such your mortgage is a fixed for life mortgage. Fixed terms of up to 30 years fixed are available under the product offering and Avant have noted the product allows you to fix and forget.
Avant Money have today announced rate changes across their fixed rate products.
Avant have reduced their One Mortgage, whole of mortgage fixed rate, which now starts from 3.95%.
Avant Money Head of Mortgages Brian Lande said: “With interest rates predicted to rise even further, our One Mortgage offers customers the option of fixing their mortgage repayments now, thus avoiding any further increases.”
Avant Moneys One Mortgage product at current pricing will be attractive to mortgage switchers who have stronger loan to values and as such can access their lowest market rate offering but equally the purchaser segment of the mortgage who want to lock in a rate and not have to think about it for the mortgage term, in particular those with fixed incomes who would like security over repayments.
Avant have increased their 3 to 5 year fixed rates by on average 0.3%, a modest increase relative to the level of increase we have seen from lenders over the last six months.
Including current increases Avant’s 3 year fixed rates which start from 3.6% remains the lowest rate on the market.
Avant are combining the reduction in their One Mortgage rates with a switcher incentive of €1,500 available until 29th Sept, subject to terms.
Avant is also offering a price guarantee on their One Mortgage rate that is included on their loan offers until 29th September giving switchers security over rate when switching.
Avant Moneys One Mortgage product offers value and certainty which so many mortgage holders now crave.
Having a rate that means repayments are fixed for the life of the mortgage is very attractive for many mortgage holders with fixed incomes or those who do not want to be exposed to further rate increases.
Who would Avant Moneys One Mortgage product suit?
Avant Moneys One Mortgage product at current pricing will be attractive to;
- mortgage switchers who have stronger loan to values and as such can access their lowest market rate offering
- but equally the purchaser segment of the mortgage who want to lock in a rate and not have to think about it for the mortgage term, in particular those with fixed incomes who need security over repayments.
Some other flexible benefits offered by Avant
- Avant offer a capped break penalty and overpayment option of 10% per annum on their fixed rates.
- If a break penalty is applicable for early exit, Avant have capped any break penalty at 2% of the mortgage balance or 1.5% after 10 years. If you clear the mortgage early (move home) then any potential penalty will be waived if you take an equivalent mortgage with same term with Avant within 12 months, subject to eligibility criteria
At doddl we have seen a significant uplift in switcher applicants in Q2 as the pace and significance of rate increases slow.
It has never been more important to seek market based advice from a broker, rates have increased but there are still large difference on rates between lenders.
For full video explainer see – Watch here
Whole of mortgage term fixed rates and the lowest rate on the market are only available via mortgage brokers including doddl, just ask!