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Mortgage Top-Up for home improvements
Why not talk to us about a Mortgage Top-Up ?Fixed rate ending?
Select a new mortgage product right away. Itās easy to switch.Unlock more opportunities
Switch to a new product at any time if you're currently on a variable rate. -
Take control of your mortgage
Make an overpayment to save interest and speed up your repayments.Flexible payment choices
We offer you the freedom to change your repayment account or date.Support is available
We understand that unforeseen circumstances can occur, and we are here to support you.
Why not talk to us about a Mortgage Top-Up ?
Want to give yourself some more working from home space? Are you keen for a new kitchen? With our new Mortgage Top-Up, you may be able to use the value in your home to fund your home improvements.
What is a Mortgage Top-Up?
If the balance of your current Avant Money Mortgage is less than the value of your home, you may be able to use this equity to borrow an additional mortgage to pay for any work needed for your home. You can borrow up to 70% of the value of your home. For example, if your home is worth ā¬400,000 and your current mortgage is ā¬200,000 you could borrow up to ā¬80,000.
How much can I borrow?
With a Mortgage Top-Up you can borrow from a minimum of ā¬75,000. The maximum depends on the value of your home and what you can afford to repay. The purpose of your Mortgage Top-Up must be for home improvements. Choose a term of up to 35 years but not longer than the remaining term of your existing Avant Money Mortgage. Check out our mortgage rates and features to find out more. Available to existing Avant Money Mortgage customers who have held their existing mortgage with Avant Money for at least 12 months.
Talk to us about managing your mortgage
Talk to one of our mortgage advisors who will walk through your plans and let you know what choices you have . Email us at [email protected], tell us a time that suits to call you and we will be in touch. You can also contact your Broker, who can help review your Mortgage Top-Up options. If you want to borrow less than ā¬75,000, we also offer home improvement personal loans.
Top-Up Mortgage: Important information
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Loan to Value (LTV ) means the amount of your mortgage compared with the value of your property. With our Top-Up product you can borrow up to 70% of the LTV of the property. This is calculated using the current value of your property or future estimated value of the property when all changes to your home have been made, and the sum of your existing mortgage plus your Mortgage Top-Up.
Availing of a Mortgage Top-Up will impact your overall LTV. This means that the rates available on your Mortgage Top-Up, and on your existing mortgage loan when moving to a new rate will be based on your increased LTV. If you have any further questions, check out our FAQ page.
A Mortgage Top-Up is an additional mortgage loan. There may be additional costs such as valuation fees, insurance costs, solicitor fees to consider.
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If your current fixed mortgage rate is nearing its expiration, it's time to take advantage of the opportunity to reassess your options. Switching to a new mortgage product has never been easier. Best of all, you have the freedom to choose from our full range of products at the same great rates available to new customers. If your Loan to Value has decreased since you drew down your mortgage, you may be able to avail of a better interest rate. Find out more in our Mortgage FAQs.
We will contact you 60 days before your current rate expires to let you know what your options are. Let us know what new product you want to move to at least 10 days before your existing fixed rate expires, and weāll put the new product and rate in place as soon as your current rate expires.
To ensure a seamless transition, simply let us know the new offer you want, at least 10 days before your existing fixed rate expires. We'll put the new product and rate in place as soon as your current deal ends, without any hassle on your part.
Your rate, your choice.
When it comes to determining your new rate, you should consider your loan-to-value (LTV) ratio as you may be elligible to move to a lower LTV band. To change your LTV, you'll need a full valuation report from our approved panel (VMS Ireland). As we offer different rates depending on your LTV, this makes sure that you get the best rate that fits your unique financial situation.
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We're here to help.
If you're currently on a fixed rate, please note that there may be a breakage fee associated with switching to a new product. However, our dedicated team is here to guide you in exploring all available choices.
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Explore your choices today.
To discover the wide range of product and interest rate options available, make sure to check out our current mortgage rates and let us help you find the perfect fit for your financial goals? Managing your mortgage has never been easier.
Contact Us
Find our mortgage team contact details..
We offer the option to waive or refund any early redemption fees associated with your current mortgage when moving home.
To qualify, all you need to do is take your mortgage for your new home with us, for at least the same amount and remaining term as your existing one and within 12 months of redeeming your original mortgage. This way you can enjoy a smooth move without any unnecessary additional costs. 1
To find out more and explore your potential mortgage choices further, reach out to our dedicated mortgage team at [email protected] or get in touch with your trusted Avant Money broker.
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Fixed interest rate customers:
For customers on a fixed interest rate, you have the freedom to make an overpayment of up to 10% of your balance each calendar year without incurring any early redemption fees.Please note: A maximum of 2 overpayments are allowed per calendar year. Any overpayment of more than 10% may be subject to an early redemption fee, no more than 2% of your current mortgage balance.
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Variable interest rate customers:
If you're on a variable interest rate, feel free to make overpayments at any time with no redemption fees. You can choose to lower your monthly mortgage repayments, or reduce the term of your mortgage.
Change your repayment account or date:
At Avant Money, we understand that your circumstances can change. That's why we offer you the freedom to change the bank account from which your monthly mortgage direct debit is collected or make changes to your payment date.
Change made easy:
To take advantage of these simple choices and make an overpayment, please contact our dedicated Customer Service team at 0818 274 089 or send an email to [email protected].
Phone lines are open from 9am to 5:30pm, Mon to Fri (exc. Bank Holidays).
Mortgage support is available
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Concerned about your repayments?
If you've missed a repayment or are worried about your ability to make future repayments, we want you to know that we are here to support you.
We understand your challenges.
At Avant Money, we understand that unforeseen circumstances can happen, causing financial strain. We are committed to guiding our customers through these difficult times and get them back on track with their mortgage repayments.
Assistance is within reach.
For more information and guidance on what to do if you're facing repayment difficulties.
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Source of claims relating to:
1 To move house and not pay a penalty, you must take out a new mortgage with Avant Money for at least the same amount, term and within 12 months of redeeming your original mortgage. Subject to credit approval on the new mortgage.
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Lending criteria and terms and conditions apply. The monthly repayment on a 20-year mortgage with Loan to Value (LTV) greater than 80% with variable borrowing rate of 3.95% on a mortgage of ā¬100,000 is ā¬603.35 for 240 months. Total amount repayable is ā¬145,028.74. If interest rates increase by 1% an additional ā¬53.85 would be payable per month. For this example, Annual Percentage Rate of Charge (APRC) of 4.0% applies and consists of variable borrowing rate of 3.95%, valuation fee of ā¬185, and security release fee of ā¬40. LTV is the amount borrowed as percentage of the value of your home. Information correct at 7th November 2024 and subject to change. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4.0 for first time buyers) and 90% of the property value (80% for switchers). The cost of your monthly repayments may increase ā if you do not keep up your repayments you may lose your home. Applications from residents of ROI over the age of 18 only, and subject to repayment capacity, financial status and property valuation. We require property and life insurance.