Avant Money cuts fixed mortgage rates amid market crisis

Lender has cut its rates fixed for three years to 2.35% and its 10-year fixed rate to 2.65%

Avant Money made a splash when it entered the Irish market last year, offering some borrowers a loan rate of below 2%, the lowest in the market.

Avant Money, owned by Spain's Bankinter, has moved to keep its place as the lowest-cost mortgage lender in Ireland by cutting a range of fixed-rate home loans, including for first-time borrowers. 

The development comes at a key time for the Irish mortgage market as two of the three largest home loans providers, Permanent TSB and Bank of Ireland, are set to benefit most from the departure of Ulster Bank and KBC from banking in the Republic.