A three-in-one mortgage package that comprises a mortgage, home insurance and free home emergency cover has been launched by Direct Line.
The home insurance company's Living for Less mortgage deal offers borrowers a choice between a fixed-rate mortgage and a tracker mortgage, both offering mortgage rates that Direct Line says is "competitive".
Those opting for the tracker mortgage will start at 4.5 per cent for two years, after which it will revert to 1.1 per cent above the Bank of England base rate.
Fixed mortgage rates are 4.74 per cent for the two-year and three-year deals and 4.84 per cent if the mortgage is fixed for five years.
Up to 95 per cent loan-to-value can be borrowed, while an arrangement fee of £449 is payable.
Furthermore, mortgage borrowers get 20 per cent discount on their home insurance, as well as two years' free home emergency cover, which is valued at a minimum of £142.
The three-in-one combined mortgage and home insurance package is designed to help people "save time as well as save money", says David Allan, the commercial director for Direct Line Living for Less.
He says the deal is "innovative and competitive", adding: "It is everything customers need to pay for and protect their home – in an easy, great value package."
The mortgage package is available via the telephone or on the website of the home insurance company.
Direct Line offers mortgage and home insurance package
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Direct Line offers mortgage and home insurance package
Thu, 26 Jan 2006
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