Avant Money is set to introduce a new ‘flex mortgage’ product, offering a variable rate linked to the 12-month Euribor.
Rates, starting from 3.3 per cent, will be set on the day of drawdown and adjusted annually based on Euribor fluctuations.
This differs from traditional tracker mortgages, which react to ECB rate changes within 30 days.
Brian Lande, Avant Money’s head of mortgages, says the product aims to give Irish borrowers greater choice in managing their home loans.
“This type of mortgage is already popular across Europe, and we are pleased to be the first to bring it to Ireland,” he said.
Martina Hennessy, managing director of Doddl.ie, noted that while similar to tracker mortgages, the annual rate review provides more stability.