The AA five-year fix offers a market-leading rateGETTY IMAGES
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The AA five-year fix offers a market-leading rate

It means that someone with a £200,000 mortgage will pay £664 a month in repayments, over a 25-year period.

After five years, the interest rate will rise to 4.24 per cent, but the initial 3.99 per cent rate makes it a market-leading product.

The next-best rate on the market for five years, and with a 95 per cent loan-to-value, is the Post Office’s five-year fix which offers a rate of 4.19 per cent. There are no fees.

[Source”cnbc”]