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Direct Line Mortgage
The Direct Line Mortgage has launched an online-only mortgage. It is a two years tracker, 0.31 per cent below the Bank of England base rate. By this the Direct Line Mortgage customers will be able to take 20% on home insurance for two years and two years' free home emergency cover. The Direct line's most popular plan 2 years fixed has been re-launched with a new rates for Mortgage loan that is 4.49%, the 3 years fix is at 4.84% and 5 years fix is 4.89%. The rates are very good for the customers and they can get the home insurance discount and the free home emergency cover.
The Direct Line is applying the same principle to mortgages that it apples to the car insurance. The Direct Line mortgage option on offer- a flexible mortgage and a bolt-on offsetting account. The Direct Line Mortgages knows that the people are looking to take on a re-mortgage face in a dilemma about whether to take on a fixed rate or a tracker mortgage. In the Fixed rate mortgages the people will get the certainty and security while customers could benefit from a discount tracker mortgage which resembles the Bank of England base rate. The two year Direct fixed rate plan has been the most popular type of mortgage. The Direct Line offers mortgage loan and home insurance packages.
Various Direct Line Mortgages:
- Discount tracker mortgages
a) On line only 2 year discount tracker
Variable rate for two years 5.47%
Then a variable rate of 7.25%
The overall cost for comparison is 7.1% APR
b) Year discount tracker
Variable rate for two years 6.00%
Then a variable rate of 6.85%
The overall cost for comparison is 6.9% APR
- Fixed rate mortgages
a) 2 year fixed
Fixed rate for mortgage loan until 31/08/2009 6.24%
Then a variable rate of 7.25%
The overall cost for comparison is 7.3% APR
b) 3 year fixed
Fixed rate for mortgage loan until 31/08/2010 6.29%
Then a variable rate of 7.25%
The overall cost for comparison is 7.3% APR
c) 5 year fixed
Fixed rate for mortgage loan until 31/08/2012 6.29%
Then a variable rate of 7.25%
The overall cost for comparison is 7.1% APR
At Direct Line Mortgage all the variable rates are directly related to the Bank of England base rate currently it is 5.75%. If any case the base rate of the Bank of England changes then the customer rate will also change by the same amount. The Direct Line Mortgage is the best choice for the first time buyers and for existing customers.
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Contact Information of Direct Line
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