Buying a home is the biggest investment most people ever make. But unless you are lucky enough to buy your property outright, you will need a mortgage to help you.
The housing market has boomed in recent years and many see property as a way of providing for themselves in the long-term. This has been reflected in the number of mortgages sold every year. According to the Council of Mortgage Lenders, in 1993, 1,152,000 mortgages and remortgages were taken out; in 2004, that figure stood at over 2.6 million.
As taking out a mortgage is such a serious commitment, you need to make sure you get the right one for you. With so many different types on the market these days, the choice can be a little bewildering. That’s why, at Direct Line, we keep it simple.
You can choose a fixed rate mortgage, where the interest rate stays exactly the same for two, three or five years. That way, you know exactly what your monthly payments will be for that time.
Alternatively, you can choose a tracker mortgage, which is linked to the Bank of England’s interest rate. If that rate goes down then so will your mortgage rate – of course, if that rate goes up, your mortgage goes up too. There’s a great value online only 2 year tracker mortgage deal available too!
Whether you are a first-time buyer or switching from another lender, why not find out what Direct Line has to offer. And you can apply online too. What’s more, if you take out a Direct Line mortgage, we’ll give you 20% off our best home insurance price, if you are an existing customer or switch to us within 12 months.
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