Avant Money cuts Interest Rates

Avant Money Cuts Interest Rates while its Parent ‘Bankinter’ is set enter the Irish market

Avant Money is the latest mortgage lender to announce plans to cut its mortgage interest rates, while it will introduce a further new incentive to support people who wish to move their mortgage to them.

The cuts see their four year fixed rate mortgage decrease to 3.6% for loan-to-values up to 80% and to 3.8% for loan-to-values of more than 80%. All other fixed rates will decrease to between 3.7% and 3.95% depending on the fixed rate term and loan-to-value with the new rates set to take effect from Friday May 3rd.

Avant Money have also announced a new mortgage switching incentive which offers 1% of the mortgage amount in cash – for example €4,000 on a €400,000 mortgage. Avant said there is no immediate change for its existing mortgage customers while any customers who have applied but not yet drawn down their mortgage will automatically get the benefit of the lower rates if they draw down from May 3rd.

The mortgage rate news was followed by the announcement that Spanish lender Bankinter intends to use its subsidiary Avant Money as an Irish banking branch.

It’s a good time for mortgage holders, with AIB(Haven) just after increasing the cash incentive for switchers by 50% from €2,000 to €3,000 while they have also cut their “green” mortgage rates for homes with a Building Energy Rating (BER) of B3 or better. Bank of Ireland recently introduced a range of discounts on its fixed rates for those with BER of any kind and Permanent TSB in March announced reductions in its four year fixed rate mortgage product.

With interest rates now starting from 3.45%, talk to us to find out more on 071 9194194 or email mortgages@obg.ie