Key Post Is Avant now a clear best buy?

[DublinHead54]

It looks like all roads point to Avant now.

Some of the lowest rates on the market, ability to overpay, low follow on variable, offer new rates to existing customers, some flexibility in breaking out and a great mix of rates across the term.

Is the only thing stopping them cornering the market the fact that they use broker channels and people may still trust the brick and mortars providers more?

I am going to fix for 4/5 years as it suits my situation (we might move in 5 years).

 

[Brendan Burgess]

Hi Dublin Bay

I updated the tables for 90% LTV this morning and came to the same conclusion.

Finance Ireland has a nice feature where the fixed rate may fall, if your LTV falls, but Avant's rates are much lower from the start, so it seems that they are a better bet.

Brendan

 

[Horatio]

Let's say I fix for 10 years but I need to sell after 7 years. I understand there may be early break fees and penalties, fair enough.

Is there an option to sell on my remaining 3 years to a willing and eligible new owner?

I have seen this practice in other markets in Europe but I have not heard of it here.

 

[Brendan Burgess]

Is there an option to sell on my remaining 3 years to a willing and eligible new owner?

No.

 

[Brendan Burgess]

I understand there may be early break fees and penalties, fair enough.

Just to be clear.

There is only "an early repayment charge.". It is not a penalty as such.

It is likely to be zero if you are taking out a 10 year mortgage today.
But, in any event, Avant has a ceiling of 2% on it.

Brendan

 

[skrooge]

It is likely to be zero if you are taking out a 10 year mortgage today.
But, in any event, Avant has a ceiling of 2% on it.

Brendan

Also worth pointing out they may wave the fee if you remortgage (for more) with them.

Early redemption fee can be waived or refunded for home movers
If you decide to move home, you may be eligible for a waiver or refund of your early redemption fee. This benefit is not usually available with fixed rate mortgages in Ireland (source: other lenders websites).

To qualify, you must take out a new mortgage with Avant Money for at least the same amount, term, and within 12 months of redeeming your original mortgage. Subject to credit approval on the new mortgage.