Website: Direct Line
Phone: 0845 246 8165
There is only one type of Direct Line mortgage- a flexible loan with offsetting if desired. It makes buying a house as easy as getting any other sort of loan; but if you have special requirements, you may need to go elsewhere.
What? Mortgages from your car insurance company? Yes, guv. Here are two good reasons why. Firstly, the Direct Line mortgage means the company is applying the same principle to mortgages that it did to car insurance. Unlike most lenders, who want to lend to anyone they can, Direct Line is only interested in "normal" cases (just like good family drivers). By cutting out special cases (which is most of us!) they can find their place in the market. Secondly, the recent trend towards flexible mortgages means that homebuying isn't as complicated as it used to be- it's just like getting any other type of loan. That means less traditional lenders like Direct Line can get an easy foothold in this market.
Why explain all this? Well, it means you have a new option to try. And it explains why there is really only one Direct Line mortgage option on offer- a flexible mortgage and a bolt-on offsetting account. That's it. So if you're a normal redbrick "plain vanilla" homeowner with no debt issues, this could add a string to your bow- and the rates will be good. If you need anything specialist, move on!
