Mortgage competition heats up with introduction of 30-year fixed rates

Spanish-owned lender Avant Money will offer fixed rates of between 2.25% and 3.16% on fixed-rate mortgages covering terms of 15, 20, 25 and 30 years

Bank of Ireland is lowering its non-performing loan exposure.

A second lender in little over a month has promised the option of multi-decade fixed-rate mortgages in a bid to shake up competition in the wake of the decisions by Ulster Bank and KBC Bank Ireland to quit the banking market.

Hailed as “a step in the right direction for the Irish mortgage market”, Spanish-owned lender Avant Money has said it will offer mortgages with interest rates fixed for up to 30 years.