Alistair Smillie, Head of Secured Lending for Direct Line Financial Services, said: “The phones were red-hot with our previous three year fixed rate mortgage offer and we sold all our funds within a few weeks. Customers’ demand for this deal outstripped the supply but we are delighted to give them another opportunity. This three-year fixed rate mortgage offers customers the chance to avoid the risks of rising interest rates at what is a highly competitive rate.”
After the fixed rate period ends, customers will pay Direct Line’s existing standard variable rate – currently 4.96%. The mortgage, which is available for both new purchasers and those looking to remortgage, has no extended redemption charges and is available up to 100% loan to value at a rate of 5.29% (5.4% APR).
