AA launches into the mortgage market
The AA has launched a range of fixed rate mortgages available exclusively to its breakdown members. The mortgages are provided by Bank of Ireland UK.
It is unusual for a lender to launch into the market with exclusive products for its members and make all of them fee-free.
Aaron Strutt, product director at Trinity Financial, says: “The AA is not offering the cheapest headline rates in the market and if you are looking for a best buy mortgage it is probably worth contacting one of the bigger lenders.
“Most of the lenders give customers the option of paying an arrangement fee and if you have a larger mortgage it often makes sense to pay an arrangement fee.”
More companies are starting to offer a mortgage proposition as they spot an opportunity to provide a wider package of products. Sainsbury’s are due to launch into the mortgage market at one point this year.
The AA has released research to show that millions of people are paying well over the odds for their mortgage. They are paying expensive standard variable rates, often because they are not contacting their lenders to switch to a cheaper deal.
For help to secure a mortgage call Trinity on 020 7016 0790.
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