Avant Money launches a new mortgage today from < 2%

RedOnion

Frequent Poster
Messages
6,161
It'd make perfect sense if they were to cover legal fees for higher value switcher mortgages, similar to Haven having s cutoff of 250k.

Currently, along with Finance Ireland and Dilosk they're the only active lenders that don't offer cashback for switchers. In other words, >98% of switchers get cashback in some form.
 

Mocame

Registered User
Messages
76
According to today's Irish Times Avant are extending the number of locations they will lend in to include Athlone, Carlow, Dundalk, Kilkenny, Wexford and Portlaoise.
 

Protocol

Registered User
Messages
3,502
I saw a list of brokers dealing with Avant mortgages who don't charge fees to the borrower.

I am searching AAM for that list now.

Does anybody else recall it?
 

HollowKnight

Registered User
Messages
258
Spoke with a broker today about a switch to Avant (my circumstances have changed a little) and he informed me that Avant do not do any exceptions to the 3.5x multiplier on income.

I'm not sure I've seen this mentioned on the forums anywhere and thought it a good idea to share.
 

Flash The Cash

New Member
Messages
1
What is the minimum amount for an avant mortgage? On the application form it says 100,000 but on bonkers.ie for the new "one mortgage" it says minimum loan amount is 25,000? Their website is very low on details and help. I read the press release for the one mortgage on this website askaboutmoney in a different thread, but minimum is not mentioned, however bonkers filter out the older offerings if I put in a loan amount less than 100,000. I am not sure if it's a typo on bonkers website but switcher.ie does not seem to do same rules.
 

mojoask

Registered User
Messages
229
Wondering has anyone here completed a switch to Avant? Couple of questions if so, can you see your balance online? How easy/difficult is it to make an overpayment?
 

Itchy

Registered User
Messages
561
Applying to Avant at the moment. Broker informs me that Avant will not consider extending the term of the mortgage. Cant seem to verify that on the website, can anyone confirm?
 

Brendan Burgess

Founder
Messages
45,209
Broker informs me that Avant will not consider extending the term of the mortgage.

What do you mean by that?

The One Mortgage has a much lower rate for a 15 year mortgage than a 30 year mortgage. So you couldn't get a price based on 15 years and then ask for it to be switched to 30 years without paying a higher rate.

And if are 50, they would probably not give you a 30 year mortgage anyway.

Avant might face a problem if a customer has a 15 year mortgage and gets into trouble. Then extending the term might be the only way of making the mortgage sustainable, but the Central Bank does not allow lenders to increase the rate for those in MARP who are cooperating.

Brendan
 

Itchy

Registered User
Messages
561
What do you mean by that?

The One Mortgage has a much lower rate for a 15 year mortgage than a 30 year mortgage. So you couldn't get a price based on 15 years and then ask for it to be switched to 30 years without paying a higher rate.

And if are 50, they would probably not give you a 30 year mortgage anyway.

Avant might face a problem if a customer has a 15 year mortgage and gets into trouble. Then extending the term might be the only way of making the mortgage sustainable, but the Central Bank does not allow lenders to increase the rate for those in MARP who are cooperating.

Brendan
The term remaining with my current lender is X. I want to extend X to 30 (I'm a spring chicken). The broker informs me that the maximum term that Avant will allow me to pay off the mortgage over is X.

Which seems like an arbitrary (ridiculous) position to me.
 

PebbleBeach2020

Registered User
Messages
253
The term remaining with my current lender is X. I want to extend X to 30 (I'm a spring chicken). The broker informs me that the maximum term that Avant will allow me to pay off the mortgage over is X.

Which seems like an arbitrary (ridiculous) position to me.
I've done a few switches and always the term stayed the same or reduced. It was never extended.
 
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