fbpx

Avant Money Mortgages Ultimate Review – Ireland 2022

Avant Money have the best range of rates on the market. In our Avant Money Mortgages Ultimate Review – Ireland 2022 we will give you the inside track on a Avant Money mortgage and what other options are available.

Avant Money Mortgages Review

As someone who used to lead the mortgage product team in PTSB I’ve kept a close eye on Avant Money’s entry into the mortgage market.

As a new entrant, unlike the Irish banks they aren’t weighed down by the costs of the tracker mortgages offered in the boom This has allowed them to undercut the Irish banks and offer some of the very best rates on the market.

  • Avant Money’s Short and Medium term fixed rate products are the best in the market under cutting all the Irish banks by some margin.
  • Avant Money’s Long term fixed rates from 15 years + are the clear market leader, beating their nearest rivals Finance Ireland on rate and they are the only provider with a 25 or 30 year fixed rate.

The only real drawback with Avant Money is that they are quite picky on who they loan to and what for. They don’t offer self build mortgages. So if you are looking to build a forever home outside of a town or in a small village they aren’t an option.

They also have a tighter credit policy than most lenders.

The key takeaway is that if you can get a mortgage from Avant Money it is probably your best option. You can see how an Avant Money mortgage repayment compare to the others in the market for your mortgage here.

Read on to find out if a Avant Money mortgage makes sense for you and the other options for a great rate and easy approval.

Avant Money Mortgage Rate and Product Overview – Avant Money Mortgages Review Ireland 2022

Pro’s & Con’s – Avant Money Mortgages Review Ireland 2022

Recommendation – Avant Money Mortgages Review Ireland 2022

Alternatives – Avant Money Mortgages Review Ireland 2022

In a Nutshell – Avant Money Mortgages Review Ireland 2022

Avant Money Mortgage Rate and Product Overview – Avant Money Mortgages Review Ireland 2022

Avant Money Mortgage Availability

So here’s the rub, Avant Money mortgages lead the market on rate, but they aren’t available to everyone or for every type of mortgage.

Avant Money mortgages are now available in to most homes in Ireland

Avant Money Mortgage Approval Types

Avant Money are selective about what they lend.

  • They offer residential mortgages of more than €100,000 only, including first time buyers, home movers and switchers.
  • They do not offer investment, buy to let or staged payment self build mortgages.

They will do top up mortgages for home improvements as well, but that is pretty much it.

Avant Money Mortgage Approval Credit Policy

They also have a reputation for being the most picky with their credit policy. This means if you have a checkered credit history they probably aren’t the best fit, with ICS Mortgages or Finance Ireland being better bets.

Plus they look for evidence that the home owner has saved the deposit themselves rather than getting their entire deposit from the bank of mum & dad. This means the amount of deposit secured by ‘gifting’ is limited which is not the case with some other lenders.

Avant Money Mortgage Rate

Avant Money offer two types of fixed mortgage rate. Short/Medium term fixed rates and Long term fixed rates the ‘One Mortgage’

In the short term fixed rate mortgage comparison table below Avant Money mortgages perform really well, winning out on all rates.

Short/Medium60% LTV70% LTV80% LTV90% LTV
Fixed TermRateAPRCRateAPRCRateAPRCRateAPRC
3 Years1.95%2.03%2.05%2.06%2.15%2.23%2.2%2.25%
4 Years1.95%2.02%2.05%2.23%2.15%2.23%2.2%2.23%
5 Years1.95%2.02%2.05%2.06%2.15%2.22%2.2%2.25%
7 Years1.95%2.01%2.05%2.07%2.15%2.21%2.25%2.28%
10 Years2.10%2.12%2.20%2.20%2.30%2.32%2.40%2.40%
AVANT MONEY RATES (APRC calculated on €100K loan, 30 years, valuation of €185, security release €40)

Annual Percentage Rate Charge (APRC) represents the average rate across the lifetime of a typical mortgage and is recommended as the best rate to use for comparisons by the CCPC. [1] You can check out the APRC of all the mortgages currently on the market using our comparison tool here.

The APRC and the interest you will pay over the lifetime of the mortgage is often driven by the rate you pay after the introductory rates above, called the ‘follow on’ rate. Avant Money come out on top here as well as shown in our table below.

Compare
Follow on Rates
up to
50% LTV
Follow on Rate
up to
60% LTV
Follow on Rate
up to
70% LTV
Follow on Rate
up to
80% LTV
Follow on Rate
up to
90% LTV
Follow on Rate
Avant Money2.00%2.00%2.00%2.20%2.20%
ICS Mortgages2.45%2.45%2.45%2.70%2.70%
Finance Ireland2.75%2.95%2.95%2.95%3.15%
Haven Mortgages2.75%2.95%2.95%2.95%3.15%
AIB2.75%2.95%2.95%2.95%3.15%
KBC3.00%3.00%3.05%3.05%3.3%
Ulster Bank3.50%3.50%3.70%3.70%3.90%
EBS3.30%3.50%3.5%3.50%3.70%
Permanent TSB3.70%3.70%3.70%3.70%3.90%
Bank of Ireland3.90%3.90%4.20%4.20%4.50%
Probable follow on variable rates post fixed period based on current variable rates by provider

It’s in the long term fixed rates of 15 years + shown below, where Avant Money mortgages really break from the pack. Their ‘One Mortgage’ has a clear edge on rate across all these products on it’s nearest competitor Finance Ireland, beating their offering on all the rates below.

Long Term60% LTV70% LTV80% LTV90% LTV
Fixed TermRateAPRCRateAPRCRateAPRCRateAPRC
up to 15 Years2.25%2.29%2.40%2.44%2.50%2.54%2.65%2.70%
up to 20 Years2.45%2.49%2.60%2.65%2.60%2.65%2.75%2.80%
up to 25 Years2.65%2.70%2.80%2.85%2.90%2.95%2.99%3.05%
up to 30 Years2.85%2.90%2.99%3.05%3.10%3.16%3.10%3.16%
AVANT MONEY RATES (APRC calculated on €100K loan, 30 years, valuation of €185, security release €40)

Avant Money are the only provider offering the very longest fixed terms up to 30 years. These mortgages are very common in continental Europe and extremely attractive if you want absolute certainty about how much you will pay for the whole length of your mortgage term.

Both Avant Money and Finance Ireland have introduced flexibility features allowing overpayments, capping exit fees and allowing home moving. These features have made this product a real option for many for the first time.

Pro’s & Con’s – Avant Money Mortgages Review Ireland 2022

Pro’s

  • Best rates on the market for fixed rates (3-30 years)
  • Only provider offering up to 30 year fixed rates allowing ‘lock in’ of current low rates.

Con’s

  • Limited availability across regions and mortgage types
  • Tighter credit policy, reducing approval likelihood for some
recommended

Recommendation – Avant Money Mortgages Review Ireland 2022

This one is a no brainer, if you are looking for a medium or long term fixed mortgage and meet the eligibly rules an Avant Money mortgage is the one for you. You check out if you can get an Avant Money mortgage here.

If you are looking for a 3 year fixed or a variable rate option then ICS Mortgages are another option worth considering.

If your credit history isn’t squeaky clean or you fall outside Avant Money’s tight eligibility rules then ICS and Finance Ireland are the next best thing.

Alternatives – Avant Money Mortgages Review Ireland 2022

Average Rate (APRC) 3 Yr4 Yr5 Yr7 Yr
Avant Money2.03%2.02%2.02%2.01%
ICS Mortgages2.47%2.50%
Finance Ireland2.66%2.60%
Haven Mortgages3.00%3.00%2.90%
AIB2.72%2.77%2.68%2.88%
KBC3.03%2.98%
EBS2.75%3.50%2.75%
Permanent TSB3.57%3.14%3.46%3.36%
Bank of Ireland3.70%3.30%3.6%
* LTV < 50%, excludes Mortgage value >€250,000, excludes Green mortgages
Avant Logo
  • Rates from 2.02% APRC
  • Fixed for 3-30 Years
  • Tighter approval policy
ICS Logo
  • Rates from 2.47% APRC
  • Fixed for 3-7 Years
  • Flexible approval policy
Finance Ireland Logo
  • Rates from 2.53% APRC
  • Fixed for 3-25 Years
  • Flexible approval policy

In a Nutshell – Avant Money Mortgages Review Ireland 2022

The non bank lenders Avant Money, ICS Mortgages and Finance Ireland offer the best combination of rates and approval flexibility for most people looking for a mortgage.

Rates with these lenders are typically 30% lower than the banks as they aren’t carrying the cost of supporting tracker mortgage customers.

Of the non bank lenders Avant Money currently lead the pack, offering the best overall package of rates in the market. If you can get an Avant Money mortgage, you should.

Avant Money, ICS Mortgages and Finance Ireland are available through brokers or through one our mortgage sherpas.

Next Steps – Avant Money Mortgages Review Ireland 2022

If you want to see what you could save by calculating your repayments and see all mortgage provider rates you can click here.

If you want to know more about other mortgage providers you can click here.

If you want to know more about longer term fixed rates, you can check out our deep dive best fixed rate mortgage piece here or how fixed versus variable compares here.

If you want to know more about switching you can click here. Or you can check out our handy switching mortgage guide here and our remortgaging guide here. If you still have questions check out our switching Q&A here.

If you are thinking of freeing up some extra cash from your home, take a look at our mortgage top up tips here or if you are over 55 our equity release rundown here.

If you want to get your savings started right now, set up a free no obligation video call with a mortgage sherpa here, covering not only the best rate, but also helping choose the lender most likely to approve you and helping take the pain out of the paperwork.

Daire McConnon - mortgage sherpa lead

Need help with your mortgage?

No hassle, in a 15 minute call our mortgage sherpa team will guide you on the journey. 

They will help you borrow, find you the best deal and make the paperwork painless.

Best of all, they are free as they are paid for by the lenders.

Check out our reviews

Angie - Mortgage Sherpa
Angie - Mortgage Sherpa
Lousie Winters
Read More
Very helpful, knowledgeable, friendly & efficient staff. Would highly recommend!
Angie - Mortgage Sherpa
Angie - Mortgage Sherpa
David O'Hanlon
Read More
Angie was amazing! Looked after us so well. Would definitely recommend for anyone looking a mortgage.
Previous
Next

Best Mortgage Broker

Recommended as the Best Mortgage Broker in Ireland 2022 by bestinireland.com

Book your free mortgage check

Hours
Minutes
Seconds

HURRY BEFORE THEY ARE GONE: Secure your 15 min online video call NOW.