Flex Mortgage
The variable rate mortgage with a difference.
For further information, please email [email protected].
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Choose a variable rate starting from 3.30% (Benchmark rate of 2.40% plus a 0.90% margin). 3.37% APRC** .
Your rate is linked to the 12-month Euribor rate and will be reset each year based on 12-month Euribor market rates - this means it could go up or down.
The flexibility to overpay your mortgage anytime or move to another product with no penalty. However, if you move off your Flex Mortgage, you may not be able to return to the Flex Mortgage or rate again.
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Flex Mortgage: Features and Benefits
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Lower monthly repayments
The Flex Mortgage offers you Ireland’s lowest variable rate mortgage1 starting from 3.30% (3.37% APRC**) (Benchmark rate of 2.40% plus a 0.90% margin), resulting in lower monthly repayments when compared to other variable rate products in the market.Flexibility to overpay
With the Flex Mortgage you can overpay your mortgage as much as you want, without penalty.Freedom to choose
You can choose another mortgage product at any time, without penalty. However, if you move off your Flex Mortgage, you may not be able to return to the Flex Mortgage or rate again.Transparent rates
Enjoy the peace of mind of knowing your rate is set initially and reset each year based on 12-month Euribor market rates - this means it could go up or down.
Flex Mortgage Variable Rates
The Flex Mortgage rate has two elements; a benchmark rate and a margin.
The Benchmark:
The benchmark is based on an external reference rate, the 12-month Euribor and is adjusted each year.
Learn more about the 12-month Euribor rates
The Margin
This will remain the same for the life of your mortgage.
Flex Mortgage Rates from 10th April 2025 to 9th May 2025
***Illustrative monthly cost per €1,000 borrowed based on a 20-year term
The Benchmark Rate is subject to change, and we update it on the 10th of each month. The rate that will apply to your Flex Mortgage at drawdown will be Avant Money’s published Benchmark Rate as at that date plus the margin as confirmed in your loan offer.
Understanding the 12-month Euribor
The 12-month Euribor rate is a rate that European banks use to lend to each other on the interbank market and is updated every day. The Benchmark Rate element of the Flex Mortgage is set against the monthly average of the 12-month Euribor. This monthly average is published by the European Central Bank (ECB) on its website.
Learn more about the 12-month Euribor rates
Frequently Asked Questions
How do I apply?
You can apply for a mortgage directly with Avant Money or through selected mortgage brokers.
If you would like to register your interest now, you may email us at [email protected], with your contact details and we will get in touch with more information.
What are the benefits of the Flex Mortgage?
The key benefits are (i) A Low rate of interest (ii) Flexibility to manage your mortgage in a way that suits you, with ability to overpay as needed (iii) Fully transparent rate set against an external benchmark (iv) Certainty of repayment each year as your rate is reset annually. As the rate is variable it may go up or down each year, and consequently so too can your monthly repayments.
How is this transparent?
The interest rate on a Flex Mortgage is set against an external benchmark, the 12-month Euribor. The rate we use is published by the European Central Bank and is updated each month. We add a margin to set the overall rate. This margin will never change, giving you peace of mind that you know how your rate is set and that it is linked to an external index, which is commonly used across Europe.
How is my variable rate calculated?
Your variable rate mortgage has two elements - a benchmark rate and a margin.
The benchmark is based on an external reference rate, the 12-month Euribor. The margin is set at drawdown and will remain the same for the life of your mortgage. Every year we will recalculate your variable rate based on the 12-month Euribor market rates. This means your rate could go up or down. We will give you 30 days advance notice of your new rate and monthly repayment amount.
What is the Euribor?
Euribor stands for European Interbank Offered Rate and is the rate which the leading European banks use to lend to each other and is updated every day. We use a monthly average of the 12-month Euribor to set our benchmark. This average is published on the ECB Website.
I already have a mortgage with Avant Money. Can I switch my existing mortgage to a Flex mortgage?
Yes, the Flex Mortgage is available for new and existing customers. Your financial advisor can guide you to the best options for your needs.
Are there any restrictions on the Flex Mortgage product?
The Flex Mortgages provides you with the flexibility to move product at any stage without paying an exit fee, however, there is no guarantee you will be able to return to the Flex Mortgage or rate again. Cashback is not offered on the Flex Mortgage.
Is the Flex Mortgage a Tracker mortgage
No. The Flex Mortgage is a variable rate mortgage. A tracker mortgage tracks a benchmark rate and your rate/repayment changes every time that benchmark changes. The Flex Mortgage is also linked to a benchmark rate but your rate/repayment only changes once per year.
*The Loan-to-Value ratio (LTV) is the amount you want to borrow as a percentage of the value of your home.
**APRC is the Annual Percentage Rate of Charge. This rate allows you to easily compare mortgages from different lenders. It considers all the costs involved over the term of the mortgage, such as set-up charges and the interest rate. Typically the lower the APRC, the lower your monthly repayments and cost over the full term of your mortgage. Flex Mortgage APRC of 3.37% is based on a €100,000 mortgage over 20 years with a Loan to Value (LTV) of <=80%
***Illustrative monthly cost per €1,000 borrowed based on a 20-year term.
1. Lowest variable rate claim is based on the comparison of other variable rate mortgage products available in the market as per CCPC.ie as of 10th April 2025.
Important Information
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 €100,000 is €603.35 for 240 months. Total amount repayable is €145,028.74. If interest rates increase by 1% an additional €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 €185, and security release fee of €40. LTV is the amount borrowed as percentage of the value of your home. Information correct at 10th April 2025 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 – 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.
