The Central Bank of Ireland have calculated as at the end of September 2023 that there is over €10.7bn in mortgages on variable interest rates with many paying over 6%, €369m on fixed rates that are due to expire within one year and €15.4bn on a tracker rate paying 5.50% on average. These statistics show a vast number of customers paying excessive repayments and interest on their mortgages needlessly.
With the above in mind Avant Money announced some good news changes to their switcher proposition. They have simplified their mortgage switching offering to make it easier and quicker for clients to make the switch by:
- Reducing their documentation requirements
- Less income documents required.
- Less statements required.
- They are also offering €2,000 cashback to clients who complete their mortgage switch by the 15th of March 2024.
Avant Money have the broadest range of mortgage rates available on the market with the lowest non green 3-year fixed rate starting from 3.85% plus €2,000 cashback or you can fix for the whole term of your mortgage starting from 3.95% depending on your loan to value.
Avant Money also have flexibility when opting into a fixed rate period on your mortgage, they will allow you to overpay by 10% of your mortgage balance each year without incurring a penalty. This benefit is very popular with mortgage holders as it gives you the opportunity to pay more which will save you money in the long run without being subject to additional fees.
In order to avail of Avant Money mortgage offerings, you will need to go through a mortgage broker, and they will be best placed to give you full market advice on all your options available to you.
Your mortgage is one of the biggest financial commitments you will take on over your lifetime, it’s important not to leave reviewing your mortgage on the long finger. At Biograph we have an experienced mortgage advisory team who are available should you require any further information or assistance on above.