New mortgage lender will shake up the market
Avant Money are a new lender in the Irish mortgage market.
Their product range is well priced and while the main focus will be on their headline 1.95% 5.6 and 7 year fixed rates for loan to value less than 60%, they also have very attractive variable rates. In today's market most mortgages are sold on the basis of fixed rate contracts as fixed rates are cheaper than variable rates.
However variable rates are important
At the end of a fixed rate period mortgages automatically default to a variable rate and while future variable rates are uncertain, a good check is to see how existing variable rates compare with the rest of the market.
For a new entrant it may be difficult to predict how the lender will manage their variable rates but it certainly seems that Avant will also follow a low variable rate policy as part of their strategy to gain market share.