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AA adds five-year fixed mortgage to product range

by: Karin Wasteson
  • 21/09/2017
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AA adds five-year fixed mortgage to product range
AA Mortgages has launched a range of five-year fixed-rate mortgages between 75% and 85% loan-to-value (LTV), with fee and cashback options for both purchases and remortgages.

The range offers free standard valuation fees, as well as cashback on some offers. The 85% LTV five-year deal has an initial rate of 2.03%, and includes £500 cashback.

“Economic uncertainties and the housing market are hot topics at the moment. This could affect mortgage interest rates if the Bank of England takes measures to manage inflation in the coming months,” said David Searle, AA’s financial services director. 

“With the potential of an interest rate rise in the near future, now could be the best time to snap up these low, long-term rates,” he added.

The AA’s financial services operation entered the mortgage market in 2016. The firm launched a new range of mortgages in June 2017, including fee-free five-year fixed rate deals.

“The AA has long provided competitive savings, credit cards and loans and it is set to do the same in the mortgage market.  These are compelling offers that are easy to apply for online or by phone,” said Searle.

AA mortgages are provided by Bank of Ireland UK as part of the AA’s long-term financial services partnership with the bank. 

 

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