Indo: Avant Money cuts long term rates, but increases short term rates

[ClubMan]

Avant Money becomes first lender to cut its mortgage rates and is now letting borrowers fix for life

Mortgage lender Avant Money is reducing the rates it charges for those who opt to fix for the life of their loan.

m.independent.ie

Avant Money is increasing some of its shorter-term fixed rates, but is reducing its long-term One Mortgage rates in a bid to get more people to switch.

It is betting that fix-for-life rates as low as 3.95pc will tempt more people to switch and new buyers to opt for a long fix.

 

[JimmyCorkhill]

Due to drawdown with Avant in the next 7/10 days.
They are pushing up their short term fixed rates, effective tomorrow (26th).
Any idea do lenders typically honour the existing rate we have agreed with them for a certain period of time despite the increase?

 

[rustbucket]

Normally if you ask them directly will they honour the agreed rate they will give you a response fairly quickly

 

[JimmyCorkhill]

Got confirmation that they will honour it for 1 month.

 

[bish123]

Good to see a product in Irish market that guarantees logn term fixed rate.

 

[SuperMario]

In the Irish times article there is an important details at the end. This might make switching easier for some:

"has introduced a new €1,500 legal fees incentive to cover the costs of transferring the loan."

Avant Money cuts interest rates for borrowers who fix for life of loan

Lender has increased the rates on its shorter-term fixed rate mortgages

www.irishtimes.com