Lock into a Fixed Rate Mortgage

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Last Updated May 30, 2023

Great news for the Irish mortgage market this week! Avant Money became the first lender to cut its mortgage rates in 2023 and is now letting borrowers fix for life. Lock into a fixed rate mortgage today!

Whilst Avant is increasing some of its shorter-term fixed rates, it is reducing its long-term One Mortgage rates in the hopes of attracting more people to switch their mortgage. The “One Mortgage” products will enable borrowers to fix for the entire term of their mortgage, with rates for the 3 year term starting at 3.60% for a 60% Loan to Value (LTV) ratio. The lender is also offering €1,500 to cover legal fees for those switching to One Mortgage, which has the long-term rate.

Avant Money is upping the ante, enabling borrowers with a long-term perspective on their mortgage to switch and secure a mortgage rate.

What does this mean for borrowers?

It means whatever ups and downs life brings you, the one thing you can depend on staying the same is your mortgage payments. All you need to decide from the onset is how long you want to fix your mortgage from 3 to 10 years. It is important to choose wisely, and a good broker helps with these decisions.

Long term fixed rates may not be for everyone. However, there are some great rates available now, with short term fixed rates from 3.60%.

Avant Money Rates

Fixed Term Period
Rate 60% LTV
3 years 3.60% 60% LTV
4 years 3.75% 60% LTV
5 years 3.80% 60% LTV
7 years 3.95% 60% LTV
10 years 3.95% 60% LTV
Follow-on variable 3.50% 60% LTV

Source: Finance Ireland, Residential Mortgages Rates, May 2023; Avant Money Residential Mortgages Rates, May 2023.

Why have a 10-year fixed rate mortgage?

Simply put – you know what your mortgage will be moving forward. In 2020, we saw mortgage rates hit one record low after another. In 2022, we have seen historically high interest rates. We cannot predict the future, but there is a possibility they could rise again.

The comfort of knowing your payments will not change during your term, can position you to plan properly for you and your family’s future.

At Mortgage123, we are proud to be part of an exclusive club who can avail of these innovative Avant Money mortgages.

Will more lenders reduce their rates?

The competition may  intensify with Avant’s rate reduction however, it is uncertain if more lenders will follow suit just yet. Time will tell.

Apply for a 10-year fixed rate mortgage now

So, what are you waiting for? Avant Money mortgages are accessible through their broker network in Ireland. We are delighted to be part of this exclusive club. At Mortgage123, we can give you the best quote for you.

Long-term fixed rates may not be for everyone, but a good broker will guide you through your options.

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