Before Money Will Lower Mortgage Rates
Mortgage lender Avant Money has announced that it will cut a number of its mortgage interest rates starting December 9.
He said fixed rates will be reduced by up to 0.30%, with lower tracking variable rates starting at 2.0%.
The company said it believes the new rates will be of interest to first-time homebuyers, who typically need a larger loan to assess the mortgage.
Avant Money offers a 3-year fixed rate of 2.20% to 90% of the loan value.
Combined with a lower variable tracking rate, he said clients would enjoy lower monthly payments and save thousands of dollars over the life of their mortgage.
âBefore Money entered the mortgage market with a mission to deliver lower mortgage interest rates, innovative new products and long-term value that deliver real savings over the life of a mortgage,â said Brian Lande, Mortgage Manager for Avant Money.
“I am delighted that these latest rate cuts mean that we are now offering even better value mortgages to our customers,” he added.
According to Avant Money, customers who want to switch mortgage providers could save thousands of dollars.
“For example, switchers needing a mortgage loan of â¬ 250,000 over 20 years with a loan ratio of 70% could save up to â¬ 56,070 over the term of their mortgage with the new fixed rate below. 3 years, “he said in a statement.
Avant Money has also announced that it is expanding its lending sites to all counties – expanding its network of preferred brokers.
Today’s announcement follows Finance Ireland’s announcement yesterday that it has reduced its long-term fixed mortgage interest rates.
âThe decision by Finance Ireland and Avant Money to make new mortgage product announcements is great news for mortgage customers and further increases competition in the Irish mortgage market,â said Trevor Grant, Chairman of the Association of Irish Mortgage Advisors.
âNon-bank lenders have both cut interest rates and introduced other product innovations.
“This is because of the significant advance in products earlier in the year, which saw them introduce long-term fixed rates with overpayment options and the ability to transfer the mortgage to another property at the future, “he added.
Mr Grant said both lenders operate exclusively through mortgage brokers who now account for 41% of the mortgage market and the share is growing.