Joey Sheahan, head of credit at MyMortgages.ie, said Avant Money’s entry into the Irish market was the “best news” for Irish mortgage holders.
“We have long seen European rates well below 2 per cent compared to closer to 3 per cent for Irish mortgage holders, and now, for the first time since before 2008, rates below 2 per cent are available to homeowners in Ireland,” he said.
Pricing war begins as AIB responds with new loan-to-value fixed rate of 2.25%
Leitrim-based consumer finance company Avant Money has begun taking applications for its products from Monday with a fixed-rate mortgage offering that is the lowest on the market.
Avant Money, formerly known as Avantcard, is based in Carrick-on-Shannon with a second office in Dublin. It is owned by Spanish banking group Bankinter and has been providing consumer finance products to Irish consumers for more than 20 years.
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Joey Sheahan, head of credit at MyMortgages.ie, said Avant Money’s entry into the Irish market was the “best news” for Irish mortgage holders.
“We have long seen European rates well below 2 per cent compared to closer to 3 per cent for Irish mortgage holders, and now, for the first time since before 2008, rates below 2 per cent are available to homeowners in Ireland,” he said.
“It’s a once-in-a-decade or maybe even two-decade opportunity where a new lender enters the Irish market and reduces interest rates to this extent.
“We are delighted to be one of Avant Money’s partners and our advice to mortgage holders is now is the time to review their current mortgage, even if they have done so recently.
“A mortgage holder with €300,000 outstanding with 32 years remaining and loan-to-value of below 60 per cent can save €158 monthly or €60,000 over the term of mortgage based on reducing interest rate from 2.95 per cent to 1.95 per cent.”
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Read the full article on The Irish Times – https://www.irishtimes.com/business/financial-services/avant-money-enters-mortgage-scene-with-lowest-rate-on-irish-market-1.4354349
