![\"Brian](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/01\/e0f1714c-8142-4032-90fa-01f55dd1a0e2.jpg\")
<\/p>\nThe move comes despite smaller lenders increasing their rates in the past two days.<\/p>\n
Avant Money, which is owned by Spain\u2019s Bankinter and has a banking licence in this country, is cutting its fixed rates by up to 0.35 of a percentage point.<\/p>\n
It also said it will double its cash back to borrowers to 2pc of the mortgage value.<\/p>\n
The changes take effect for new mortgage drawdowns from Monday, January 19.<\/p>\n
<\/p>\n
Brian Lande, head of mortgages at Avant Money. Picture by Jason Clarke<\/p>\n
Today’s News in 90 Seconds, Wednesday, January 7 <\/p>\n
Avant Money has also launched a high-value mortgage for loans over \u20ac300,000 with fixed rates starting from 3.20pc for loan-to-values of less than 60pc.<\/p>\n
Head of mortgages at Avant Money Brian Lande said the new high-value mortgage will be available for all properties and is not restricted to higher Building Energy Ratings (BER) ratings.<\/p>\n
\u201cRepayments on a mortgage of \u20ac500,000 with less than 60pc loan-to-value over 30 years at 3.20pc will now be \u20ac660 lower per year compared to the existing four-year fixed rate,\u201d he said.<\/p>\n
\u201cAlternatively, choosing a cashback-eligible product would offer cashback of \u20ac10,000.\u201d<\/p>\n
The rate-cut move comes despite non-bank lenders ICS Mortgages and Spy Finance, which targets equity release products at older homeowners, raising their rates this week.<\/p>\n
ICS Mortgages said it is raising fixed home loan rates by as much as 0.45 of percentage point.<\/p>\n
Spry Finance, the trading name of Seniors Money, is raising its rates by 0.25 of a percentage point.<\/p>\n
Experts said these non-bank lenders do not have access to cheap funding in the form of customer deposits to finance their mortgage lending, unlike AIB, Bank of Ireland, PTSB, Avant Money, and MoCo.<\/p>\n
Wholesale money markets have seen rates rise lately due to the markets concluding that the next European Central Bank move will be upwards.<\/p>\n
Mortgage adviser Michael Dowling, of Irish Mortgage Brokers, said the changes to Avant Money\u2019s product offering were significant.<\/p>\n
\u201cAvant Money has introduced a new \u2018high-value\u2019 mortgage over \u20ac300,000 with rates from 3.2pc fixed for four years which are the cheapest non-green rates on the market currently.<\/p>\n
\u201cThe average mortgage in our market exceeds \u20ac300,000 so this is welcome news for this cohort of borrowers.\u201d<\/p>\n
Mr Dowling said the reduction of 0.35 of a percentage point on the Avant Money five year fixed rate offering will save borrowers \u20ac60 a month on a \u20ac300,000 mortgage.<\/p>\n
He said it was surprising that Avant Money has doubled the cashback to 2pc of the loan amount from 1pc, and this will be very welcome news for some borrowers.<\/p>\n
\u201cAvant Money in the first week of the year is setting out its intention to grow its market share with these changes. Let\u2019s hope others follow suit.\u201d<\/p>\n
The European Central Bank (ECB) held its rates steady at its December meeting, having cut rates eight times since June 2024.<\/p>\n
Brokers had, including Doddl.ie, had predicted more competition in the home-loans market this year.<\/p>\n
Avant Money is part of Bankinter, one of Europe\u2019s leading banking groups. It operates in Spain, Portugal, Ireland, and Luxembourg.<\/p>\n
Avant Money offers a growing range of financial products in Ireland, including credit cards, personal loans, and residential mortgages.<\/p>\n
It is expected to offer a deposit account this year.<\/p>\n","protected":false},"excerpt":{"rendered":"The move comes despite smaller lenders increasing their rates in the past two days. Avant Money, which is…\n","protected":false},"author":2,"featured_media":272120,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[79,2107,18,19,17,2108],"class_list":{"0":"post-272119","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-charlie-weston","10":"tag-eire","11":"tag-ie","12":"tag-ireland","13":"tag-money-experts"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115853713985301103","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/272119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=272119"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/272119\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/272120"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=272119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=272119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=272119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}