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Avant Money has announced a significant reduction in its mortgage interest rates, joining a recent trend among Irish lenders aiming to offer more competitive terms amidst changing economic conditions. Set to take effect from May 3, these new rates promise enhanced affordability for home buyers and those looking to switch their existing mortgages.

Detailed Breakdown of Rate Changes

Under the new structure, Avant Money’s four-year fixed rate mortgage will now be offered at 3.6% for loan-to-values (LTV) up to 80%, and at 3.8% for LTVs over 80%. Additionally, the lender has announced a reduction across all other fixed rates, which will now range between 3.7% and 3.95%, varying by the term of the fix and the LTV ratio. Notably, these rates are reducing by up to 0.45%, offering even better value to customers across the full range. These revised rates are designed to make Avant Money’s mortgage options more attractive in a competitive market, reflecting their commitment to providing value to their customers.

New Switching Incentive: Cash Back for Mortgage Transfers

Adding to the appeal of its revised mortgage offerings, Avant Money is also introducing an enticing incentive for those considering switching their mortgage to the lender. New and existing customers who move their mortgage to Avant Money will receive 1% of the total mortgage amount back in cash. For instance, a switch involving a €400,000 mortgage would result in a €4,000 cash benefit to the borrower. This initiative is part of Avant Money’s strategy to attract mortgage holders looking for better terms and to ease the financial burden associated with such a switch. Learn more about this incentive here.

Industry-Wide Shifts: Rate Reductions Across Irish Lenders

As Avant Money slashes its mortgage rates, it is not alone in adjusting its lending strategies. Recently, AIB and its affiliates EBS and Haven have also reduced their ‘green’ mortgage rates for homes with a high Building Energy Rating (BER). Similarly, Bank of Ireland and Permanent TSB have introduced discounts and rate reductions, reflecting a trend towards more favourable lending terms across the Irish market. These moves come in anticipation of a potential rate cut by the European Central Bank in June, as inflation in the eurozone approaches the ECB’s target, possibly easing monetary policy. However, there is caution in the air, as Irish banks have historically been slow to pass these ECB rate changes fully to consumers.

As Avant Money introduces more competitive mortgage rates and a lucrative switching incentive, customers stand to gain significantly from these new offerings. Whether you’re in the market for a new home or considering switching your current mortgage for better terms, these updates provide compelling reasons to review your mortgage options. 

Consider the Benefits: Is It Time to Switch Your Mortgage?

If you have been looking at your numbers and are considering reviewing your mortgage, you should definitely contact your financial advisor or find your own dedicated mortgage broker professional at All Financials G F and check all the chances of savings possible for your mortgage.

Author: Fran Cooke


Fran specialises in finance products – Pensions, Life & Mortgages advising both individuals and corporates throughout Ireland. Fran holds qualifications and accreditations from Maynooth University and the Life Insurance Association (LIA) in Financial Services. Fran recently completed the Special Investment Advisor (SIA) course and is currently refreshing his pensions knowledge with the Retirement Planning Adviser (RPA) accreditation.