Image Avant Money to cut its mortgage rates
Image Rob Flynn
Staff Writer

Avant Money has announced a reduction in its fixed mortgage rates as well as its follow-on variable rates, while expanding the availability of its mortgage products to customers nationwide.

A relatively new player in the Irish mortgage market, but already well established, Avant Money has fast become a popular alternative for first-time buyers and switchers alike.

With its attractive leading mortgage rates it’s no surprise then that the lender has made such a big impression upon Irish mortgage customers.

And with its latest news, it's sure to entice more and more home buyers and switchers to come on side.

Avant Money has announced a series of big reductions across its range of mortgage products, ensuring competition in the mortgage market is well and truly heating up! 

The lender has announced a reduction in its fixed rates by up to 0.30%, and its follow-on variable rates have also been reduced, by up to 0.55%.

If you're a first-time buyer, a KBC or Ulster Bank customer looking to find a new home for your mortgage, or someone just looking to switch and save, read on for the full details!

Changes to fixed mortgage rates

Avant Money has reduced its fixed-rate mortgages by up to 0.30%, with some great value for both first-time buyers, movers and switchers.

Those looking to take out a mortgage with the lender can choose from three, four, five, seven, and 10-year fixed rates, with reductions across all its rates for those with a loan to value (LTV) of >60%.

There has been no reduction in rates for those with an LTV of less than 60%, which remains at 1.95%, already the joint lowest on the market. The exception is its 10-year fixed which remains at 2.10%.

If you're a first-time buyer this is great news. With a typical 10% deposit, you can now get a thee-year fixed rate of just 2.20%, which is 0.15% lower than the next best offer on the market from KBC.

The greatest reduction in its fixed rates is for those with an LTV of between 80% and 90%, with a rate of 2.20% now available, a reduction of 0.30%.

There are real savings to be made for switchers too. Depending on your current lender, if have at least 30% equity and €250,000 remaining on your mortgage over 20 years, you could save between around €10,00 and up to €56,000 over the lifetime of your mortgage by switching to Avant’s three-year fixed rate for example.  

The new mortgage rates will be available from December 9th via Avant Money’s mortgage broker panel, which includes bonkers.ie of course! 

Competitive follow-on rates

The reduction in Avant’s fixed rates is furthermore complemented by lower follow-on variable rates for those who choose the lender. These follow-on rates will depend on your LTV, but start from just 2.0% for those with a loan-to-value ratio of 70% or less.

It should be said that these follow-on variable rates will be made available to existing customers only after their fixed rate period expires, and are subject to change depending on market conditions when your fixed rate finishes, hence the variable aspect.

The rate reductions announced above will be of particular interest to customers of Ulster Bank and KBC who may be considering their options in the coming months for a new home for their mortgage.

About the latest news, Brian Lande, Head of Mortgages for Avant Money, said:

Avant Money entered the mortgage market with a mission to bring lower mortgage interest rates, innovative new products and long-term value giving real savings over the life of a mortgage.

I am delighted that these latest rate reductions mean we now offer even better value mortgages to our customers.

Here’s a selection of Avant’s new rates!

Loan to Value (LTV)

New fixed rate

Old fixed rate

Reduction

Follow-on Variable Rate

3-year fixed

<=60%

1.95%

-

No change

2.0%

>60% - 70%

2.05%

2.10%

-0.05%

2.0%

>70% - 80%

2.15%

2.20%

-0.05%

2.2%

>80% - 90%

2.20%

2.35%

-0.15%

2.2%

4-year fixed

>80% - 90%

2.15%

2.35%

-0.20%

2.2%

5-year fixed

>80% - 90%

2.20%

2.50%

-0.30%

2.2%

7-year fixed

>80% - 90%

2.25%

2.50%

-0.25%

2.2%

10-year fixed

<=60%

2.10%

-

No change

2.0%

>60% - 70%

2.20%

2.25%

-0.05%

2.0%

>70% - 80%

2.30%

2.35%

-0.05%

2.2%

>80% - 90%

2.40%

2.65%

-0.25%

2.2%

That’s not all that’s new, however.

Avant has also announced some big changes around who can access its mortgages.

Now available in all counties

As well as its latest rate reductions, Avant Money has also announced more good news in that its mortgages will now be available to customers in all counties nationwide.

The lender announced it is “extending its lending locations to include all counties by expanding its network of preferred brokers.”

When Avant Money launched in Ireland it only made its mortgage products available in certain prime locations, mainly the cities of Dublin, Galway, Limerick, Cork and Waterford.

The lender then announced in April 2021 that it would be extending its reach with its products becoming available to customers in parts of Wexford town, Kilkenny city, Dundalk, Athlone, and Carlow town.

However, Avant has announced that customers in all counties will now be able to take out a mortgage with the lender through certain brokers.

Lande continued by expressing the importance of its broker network nationwide and its value proposition for customers.

Our products are now available to customers throughout Ireland as we expand the range of locations that we serve and appoint new brokers to service all counties. The advice and guidance provided by our panel of mortgage brokers is particularly valuable to consumers who wish to compare their full range of options in the market.

Compare mortgage rates on bonkers.ie

Whether you’re a first-time buyer, home move or mortgage switcher, you can easily compare mortgage rates on bonkers.ie. 

With our mortgage calculator, you can easily compare interest rates, loan terms, mortgage offers and cashback incentives from all of Ireland’s mortgage lenders, including Avant Money.

When you decide it’s the right time to apply for a mortgage, you can submit an online enquiry through our new mortgage broker service and one of our experienced financial advisors will call you back to get your application started.

Our mortgage broker service is entirely free, fully digital from start to finish and also paper-free too! That means everything can be carried out online from the comfort of your home. 

Don’t forget that you’ll also need mortgage protection insurance and home insurance to get mortgage approval, both of which we can also help with! 

Did you know that you can also compare deals for energy, broadband and other banking and insurance products on bonkers.ie? See how much you could save on other household bills by switching!

Check out our mortgage guides

If you’re seeking more information before embarking on your mortgage journey, make sure you take a look at some of our helpful mortgage guides. You might be interested in the following:

Keep an eye on our mortgages blogs and guides pages to stay up to date on the latest news and mortgage tips!

Let’s hear from you!

Are you happy to hear the news from Avant Money? Do you think other lenders will begin to reduce rates? We’d love to hear from you in the comments section. 

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