Avant Money cuts its mortgage rates and launches new switching offer 

Avant Money has cut its rates for the second time this year as the lender responds to recent interest rate reductions from the European Central Bank. 

It comes on the back of a recent rate cut from AIB, which has just launched a green rate as low as 3%. And earlier in the year, Bank of Ireland introduced a new set of competitive fixed rates based on the energy rating of the property as opposed to the loan-to-value ratio. 

As well as the reduction in rates, Avant has also launched a new 1% cashback offer.  

Here's everything you need to know...

New lower fixed rates 

Avant is cutting some of its fixed rates for first-time buyers, movers and switchers by up to 0.40 percentage points.

Its fixed rates will now start from 3.40%, which is the lowest non-green rate on the market.

The new rates come into effect from 7th November and will save the average first-time buyer around €50 to €60 a month. Any customers who are currently applying for a mortgage who draw down from 7th November 2024 onwards will automatically get the benefit of the lower rates.  

Here's a look at all Avant's new rates. And remember you can compare all rates across all lenders using our free mortgage calculator.   

New 1% cashback for first-time buyers and movers

Avant has also launched a new cashback offer for first-time buyers and movers.

Cashback has become a key feature of the Irish mortgage market in recent years but Avant has notably opted not to offer it to new buyers until now. 

Customers who draw down a mortgage between 1st January and 31st December 2025 inclusive will receive 1% of their mortgage back in cash. So €3,000 on a mortgage of €300,000 for example. 

Avant says the money will be paid out within two months of your first mortgage repayment.

Avant's existing 1% cashback offer for switchers remains unchanged for now and continues until 29th November 2024. To avail of the switching offer you must have a minimum of €100,000 remaining on your mortgage.

You can read here about all the cashback offers that are now available from all lenders in Ireland. 

As market rates fall, we are pleased to pass the benefit directly to our customers through reduced interest rates and a new cashback incentive.  

By reducing our One Mortgage rates, we are now offering customers the option to have complete certainty on their future mortgage repayments at no additional cost to our shorter-term fixed rate products where the rate and repayments will reset every few years.  

Brian Lande, Head of Mortgages at Avant Money

Avant Money to expand its services in Ireland

As well as cutting its mortgage rates, Avant announced earlier in the year that it's expanding its services in Ireland. 

With the backing of its large Spanish parent, Bankinter, Avant plans to start offering savings and deposit products and retail banking services to Irish customers over the coming months. 

Get your mortgage with bonkers.ie!

If you’re hoping to get your foot on the property ladder over the coming year, or are looking to save money by switching to a cheaper rate with a different lender, bonkers.ie can help. 

Use our free mortgage calculator to easily find the best interest rates and cashback incentives from all of Ireland’s mortgage providers.

And when it’s time to apply for your mortgage, you can submit an enquiry through our free mortgage broker service and one of our experienced financial advisors will call you back to get your application started. We'll guide you through your entire mortgage journey from application to drawdown and can help you with getting mortgage protection and home insurance too.

And the best news is that our service is entirely free and fully digital from start to finish, meaning everything can be done online from the comfort of your home!