In a major win for both new and seasoned homeowners, Avant Money has recently announced a significant reduction in its mortgage interest rates by up to 0.4%. This move aligns with the European Central Bank’s recent rate cuts, presenting a golden opportunity for those in the housing market. If you’re looking to buy or switch your mortgage in Ireland, this is the perfect time to take advantage of lower mortgage rates.
This blog post will explore the details of Avant Money’s rate cuts, the introduction of new incentives, and how collaborating with a mortgage broker like the Irish Mortgage Corporation can help you maximize these benefits whether you’re seeking a new mortgage to buy or making a switch, we’ll help get you fixed.
What’s Behind the Rate Cuts?
Avant Money’s decision to reduce its mortgage rates stems from favorable market conditions influenced by the European Central Bank’s recent interest rate cuts. These reductions are not just for show—they reflect real savings for mortgage seekers and homeowners. Understanding what drives these rate cuts can give prospective buyers confidence in their timing and decisions.
The reduced rates apply to all mortgages, not just those homes with superior energy ratings. For buyers, this equates to more affordable monthly payments, making homeownership more accessible.
A Closer Look at the New Rates
Avant Money’s rate cuts are comprehensive, offering something for everyone. The One Mortgage, a product allowing customers to fix their rate for the entire mortgage term, will see a reduction of up to 0.4%. This long-term stability is a powerful tool for budget-conscious buyers looking to avoid surprises.
The four-year fixed-rate mortgage, Avant Money’s most popular option, will also enjoy a decrease of up to 0.2%. These new rates become available for drawdowns starting November, making it an exciting time for those actively seeking mortgages in Ireland.
Depending on the fixed rate, Avant Money’s new mortgage customers will see repayments fall between €17 and €71 per month on a mortgage of €300,000 over a 35-year term.
For existing customers, while their current rates remain unchanged, there’s an opportunity for those revisiting their options with a mortgage broker to explore refinancing possibilities under these new favorable conditions.
Introducing the 1% Cashback Incentive
Starting January 2025, Avant Money will offer a new 1% cashback incentive for all mortgages drawn during the year. This incentive aims to offset costs tied to moving or switching mortgages, easing the financial burden on buyers and enhancing the attractiveness of Avant Money’s mortgage products.
Cashback offers like this provide immediate financial relief, helping cover fees and other costs associated with home purchases or mortgage changes. Understanding how this cashback can complement the rate cuts is crucial for maximizing financial benefits.
Preparing for the New Rates and Incentives
Navigating mortgage options and understanding interest rate cuts can be daunting. That’s where working with a mortgage broker, such as the Irish Mortgage Corporation, becomes invaluable. Mortgage brokers take the guesswork out of the process, providing clear comparisons and expert advice tailored to your financial situation. With the insight of a broker, you can secure favorable terms, understand the nuances of interest rate cuts, and make informed decisions that benefit your financial health.
For those considering a mortgage in Ireland, start by consulting with a mortgage broker to assess your options under these new rate cuts. Understanding your financial goals and needs will allow you to take full advantage of the current market conditions.
Begin gathering necessary documents and ensure your financial health is in order. This preparation will facilitate faster processing and approval, aligning with the introduction of Avant Money’s new rates and incentives.
Why Now Is the Time to Act
Interest rates are a critical factor in the cost of homeownership. With Avant Money’s rate cuts set to lower monthly payments, acting swiftly could lead to significant savings. Market conditions are favorable, and those ready to move will benefit from reduced financial pressures and enhanced purchasing power.
Mortgage seekers and existing homeowners should consider refinancing options. Even small reductions in interest rates can lead to substantial savings over time, making it essential to explore all available options with a knowledgeable broker. Working closely with a mortgage broker ensures you remain prepared to seize opportunities as they emerge.
Whether you’re seeking a new mortgage to buy or looking to make a switch, now is the time to act. Leverage these rate cuts and incentives to secure a mortgage that aligns with your goals, ensuring long-term savings and financial security. With expert guidance and timely action, the path to homeownership is more accessible than ever.
