‘Year of mortgage switching’ expected as Avant fights for Ulster Bank and KBC customers

Spanish-owned lender Avant Money said its fixed rates would be cut by up to 0.3% and that it is targeting first-time buyers in the main, due to their requirement for a higher loan-to-value mortgage

One broker said 2022 could be "the year of mortgage switching", with pressure building on the main lenders to cut their rates or risk losing customers. Picture: iStock

Next year is expected to see a surge in the number of consumers switching their mortgage provider and further interest rate reductions as smaller lenders increasingly target customers set to be directly affected by Ulster Bank and KBC Bank Ireland exiting the Republic.

One broker said 2022 could be "the year of mortgage switching", with pressure building on the main lenders to cut their rates or risk losing customers.