Switching your mortgage could see you keep €200 a month in your wallet

Avant Money has brought fresh competition to the Irish lending market

Whether it’s lethargy or loyalty, fear or loathing, too few of us switch mortgage. Photograph: iStock

Whether it’s lethargy or loyalty, fear or loathing, too few of us switch mortgage. Photograph: iStock

Switching your mortgage can seem like a pain. It was hard enough to get it in the first place, right? But if new lower fixed interest rates mean about €200 more in your wallet, you’d be mad not to. Especially if that’s €200 every month.

The arrival of Avant Money is bringing some real competition to the Irish mortgage market. Backed by Spanish bank Bankinter, it is offering a market-leading 1.95 per cent fixed mortgage rate to owner occupiers with a deposit, or existing equity, of 40 per cent or more of their loan. If that’s you, the monthly savings could be substantial.

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