Recent rates reduction by Avant Money highlights the opportunities for refinancing
The recent announcement in December that Avant Money was cutting a number of its mortgage interest rates from the 9th of December last highlights savings that can be made by switching your mortgage.
Avant Money has confirmed that fixed rates will be reduced by up to 0.3% with lower follow-on variable rates starting from 2%. It believes that its new rates will appeal to first-time buyers who will typically require a higher loan to value a mortgage. They are offering a 3 year fixed rate of 2.2% and 90% loan to value.
They give an example that a switcher needing a mortgage of €250,000 over 20 years with a 70% loan to value could save up to €56,070 over the life of their mortgage with the new lower three-year fixed rate.
The announcement by Avant Money followed on an announcement by Finance Ireland that they have reduced its long-term fixed mortgage interest rates and that it proposes to introduce a new 25 year fixed rate home loan mortgage with rates varied from 2.65% for a loan to value ratio of 50% or less, up to 2.99% for a 90% loan to value. Finance Ireland will also offer €1,500 contribution towards their professional fees incurred by those switching their loan from another provider to a long-term fixed-rate product from Finance Ireland.
If you wish to obtain any information on switching your mortgage, please do not hesitate to contact Pauline Horkan or SallyAnn McCoy on 01 296 0666.
