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 in Co Leitrim and is owned by Spanish banking group Bankinter.
Its new mortgage products are now available to Irish customers, with fixed rate mortgages starting from 1.95 per cent, the lowest rate on the market.
“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. (Joey Sheahan)
Avant Money executive Chris Paul said: “We are confident that our products and rates will be appealing to Irish customers who have been under-served for far too long when it comes to their mortgages.
“Unlike other providers, we have shunned short-term gimmicks such as cashback offers in favour of products and rates geared towards providing true, quantifiable savings over the life of a typical mortgage.”
Minister for Public Expenditure Michael McGrath said the added competition was good news for Irish home buyers.
“Mortgage rates in Ireland have been falling for awhile, but remain much higher than most eurozone countries,” he said.
“News today of a new entrant with low rates and rate reductions by existing lenders is very good news for consumers.”
Read the full article on Breaking News here – https://www.breakingnews.ie/business/avant-money-to-offer-mortgages-at-lowest-rate-on-market-1017873.html