Avant Money cuts its rates and offers cash back as mortgage price war hots up

And the Leitrim-based lender is introducing a cash-back offer across all its mortgage products.

The moves come a week after AIB launched two new low-cost ‘green’ mortgage rates, with Bank of Ireland and PTSB also adjusting their rates earlier this year.

The steady tit-for-tat in the mortgage war will be welcomed by homebuyers.

The European Central Bank has cut main rates three times this year and a fourth cut is expected in December.

From next week, Avant Money is cutting its fixed rates by up to 0.4 of a percentage point, and offering cash back worth 1pc of the value of the funds being drawn down.

This will mean its One Mortgage, where the interest rate is fixed for the life of the mortgage, will have rates starting from 3.4pc, down from 3.8pc.

It is also reducing its three-year rate, down 0.1 of a percentage point to 3.6pc for those borrowing 80pc or less of the value of the home.

Its four-year fixed rate, which is its most popular mortgage product, will see its rate go from 3.6pc…