Breaking News: Avant Money to offer mortgages at lowest rate on market

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.

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“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)

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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.”

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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

“It’s a once in a decade or maybe even 2 decade opportunity where a new lender enters the Irish market and reduces interest rates to this extent”

By Megan Martin, RSVP

In response to the newcomer, AIB announced today that they were introducing a new Loan-to-Value (LTV) fixed rate for mortgages with a fixed rate as low as 2.25%.

“Avant Money’s entry into the Irish market is the best news for Irish mortgage holders. We have long seen European rates well below 2% compared to closer to 3% for Irish mortgage holders, and now, for the first time since before 2008, rates below 2% are available to homeowners in Ireland,” said Joey Sheahan, Head of Credit, MyMortgages.ie and author of The Mortgage Coach.

“It’s a once in a decade or maybe even 2 decade opportunity where a new lender enters the Irish market and reduces interest rates to this extent.

Read the full article on RSVP here – https://www.rsvplive.ie/life/never-been-better-time-homeowners-22681797

Fixed-rate mortgages from 1.95%

Joey Sheahan, head of credit with MyMortgages.ie, welcomed Avant Money’s entry into the Irish market. “We have long seen European rates well below 2% compared to closer to 3% for Irish mortgage holders, and now, for the first time since before 2008, rates below 2% are available to homeowners in Ireland.”

“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% can save €158 monthly or €60,000 over the term of mortgage based on reducing interest rate from 2.95% to 1.95%.”

Read the full article on Biz Plus here – bizplus.ie/avant-money-enters-irish-mortgage-market/

Irish homeowners are overpaying by an average of €3,480 on yearly mortgage repayments. Due to a large number of homeowners failing to change lenders to get a better deal.                                                                                                                                       A mortgage price war with AIB is raging. After rival banks KBC and Ulster bank also revealed reductions.                                                                                                                       Joey Sheahan expects things to heat up this year.

You can read more from the article here – https://www.thesun.ie/news/5132690/irish-homeowners-mortgage-repayments/