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Direct Line
Direct Line is a relatively new company, founded in 1985. They began by only offering car insurance, and only over the telephone. Now they offer car, breakdown, home, travel, pet, life, and critical illness cover, as well as mortgages, loans, and savings.
Direct Line’s mortgages are either of the discounted term tracker sort or term fixed. The former sort offers a two-year discount off of the Bank of England base rate. This plan also offers an online only option, for which there is initially a lower rate. Their fixed rate mortgages are for two, three, or five years. After the term, the variable rate takes over for the remainder of the loan’s life. The five-year term offers the lowest initial rate, followed equally by the two and three-year terms.
So, if you are in the market for banking products, a mortgage, or insurance, use our tools on SimplyFinance.co.uk to find the best company and product for you, keeping in mind that this article should not be interpreted as financial advice or as a recommendation by SimplyFinance to use any individual service or to invest with any company advertised or mentioned.
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TODAY’S MORTGAGE RATES
| Loan Type | Rate | APR |
|---|---|---|
| Fixed | 5.6% | 6.9% |
| Tracker | 5.64% | 5.9% |
| Discounted | 5.7% | 6.9% |
| Capped | 6.05% | 7.2% |
About this index Rates may contain points
NEWS & ARTICLES
26 Jun 2008
Lower Fees Demanded in the Face of Declining Mortgage Approval Numbers
The mortgage market in the UK has looked better, but there are steps being taken by officials to lessen the burden on borrowers. This article talks about the current status of the mortgage market, the things being done to assist borrowers in this time of financial turmoil, and ways that borrowers can prepare themselves to go out and find the best mortgage loan for them. »
21 Sep 2008
Prices Fall in UK Housing Market
UK housing prices are currently at a record low since the housing slump of the 1990’s. The current housing market crash has been driven by the low availability of credit for new mortgages. The low housing prices reported in the fourth quarter of 1990 were due to high levels of unemployment coupled with the high interest rates. Regardless of the reasons behind the current housing crunch, reports suggest that the cost of housing in the UK is not expected to rise any time soon. Rather, the speculation is that the prices will continue to fall on average 2% per month, making any quick recovery from this slump unlikely.»
08 Nov 2008
UK Slashes Interest Rates
UK makes shocking slash to interest rates. The 1.5% cut brings the interest rates to the current level of 3%, the lowest level the UK has seen since 1955. Due to the current shift in interest rates, and the state of the UK economy, now may be a good time to consider a remortgage. »
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