Direct Line Mortgages
Direct Line mortgages come in a variety of options so that you can choose the one that fits your needs the best.
A fixed rate mortgage will give you security during the fixed rate period, as you'll always know what your repayments will be - changes in interest rates won't affect you.
A Discount Tracker mortgage, on the other hand, will offer cheaper repayments but with the risk that they may rise above those of the fixed rate option if the Bank of England base rate rises.
Mortgage or Remortgage - Same Deal
Both mortgage options offer the same deals for both new mortgages and people switching lenders (remortgaging), and all packages allow up to 10% overpayment a year without charge - a great way to reduce your mortgage balance if you have extra funds available.
You can borrow up to 95% of the property's value / purchase price, and interest is calculated daily so you're only charged what you actually owe.
Direct Line Summary
- Choose a fixed rate mortgage for predictable repayments
- Choose a discount tracker mortgage for their lowest rates
- Same deals for both new mortgages and remortgages
- No 'lock-ins' once discounted period has finished
- Optional overpayments of 10% a year without charge on all packages
- Interest calculated daily so you only pay what you owe
- Borrow up to 95% of the property's value or selling price
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