According to a number of sources in the home loan market, Avant Money is experiencing “significant delays” in processing mortgage applications as it struggles to meet demand.
It is understood that several lenders are currently experiencing delays at various stages of the mortgage process due to high demand from homebuyers and home movers, as well as staffing shortages.
Avant was under pressure due to high demand for its lower fixed prices.
Applicants should receive a policy decision within 10 days.
However, according to sources, applicants often have to wait several weeks for a decision.
ICS is also understood to be experiencing delays.
A spokeswoman for Avant said: “The volume of mortgage applications is higher than usual at the moment as customers are drawn to Avant Money’s offering and also with the imminent exit of KBC and Ulster Bank from the Irish market.
“As a result, it is currently taking longer to decide on customer applications. Avant Money is working with our brokers to provide clients with full information about their decision period.”
ICS did not respond to a request for comment.
Dowling Financial broker Michael Dowling said Avant was a “victim of its own success,” adding that its interest rates meant it was the top choice for many borrowers.
https://www.independent.ie/business/irish/high-demand-for-avant-mortgages-is-leading-to-delays-41672123.html The high demand for Avant mortgages is causing delays