With new arrival offering mortgages below 2%, get ready for a price war

Avant Money's interest rate is great news for the market, but only those who have saved a hefty deposit will be able to avail of them, says John Hearne

The new mortgage rates will prompt others in the market to up their game.

Get ready for a mortgage price war. Avant Money has just arrived in the market, offering fixed rate deals below 2% for the first time.

The company has been operating here for a number of years, providing credit cards and personal loans under the Avant Card brand. Owned by Spanish bank Bankinter, Avant Money will now offer fixed-rate mortgages starting at 1.95%, with variable rates starting at 2.5%.