Mortgages can be a minefield, there are so many different types and so many different rates it’s hard to know which one is right for you. That’s why at Direct Line we have made them easy to understand and quick to arrange.
Your first question is Which Mortgage Is Right For Me?. In association with The Royal Bank of Scotland, Direct Line offers two basic types of great value mortgages: Fixed Rate or Discount Tracker.
Fixed Rate Mortgages mean that you pay the same rate every month for a period of 2, 3 or 5 years and you don’t have to worry about changes in interest rate over that time.
Discount Tracker Mortgages mean that your interest rates go up and down with the Bank of England’s base rate. For a 2-year period you pay a discounted rate, and when that period ends you pay a rate slightly above the base rate.
Whichever type of mortgage product you have, we offer you the flexibility to make overpayments (of up to 10%) each year with no penalty fee. There is a one-off arrangement fee (currently £449 for the 2yr Discount Tracker) for setting up the mortgage.
If you’re not sure which type of mortgage will suit you best, you can compare the costs of both with our mortgage calculator.
And also, check out our great new package. Take out any of our mortgages and, if you're an existing home insurance customer or you choose to switch to us in the next 12 months, you'll benefit from an extra 20% off our best home insurance price for two years. Find out more now.
Whether you’re a first-time buyer or looking to move to a new lender, Direct Line could be just what you’re looking for – you can apply for a Fixed Rate or Discount Tracker online now.
|
