Direct Line established in April 1985, has built an organisation of over 9,000 employees, offering six main products to more than five million customers across the UK and in Europe in less than two decades.

Direct Line has two types of mortgage:

Fixed Rate
Discount Rate

Fixed Rate: your initial rate will be fixed for an agreed period, which can be for 2, 3 and 5 year. After the fixed rate period your mortgage will go back to a standard variable rate.

You have the option to overpay up to 10% of the initially borrowed amount a year during the fixed rate period.
An early repayment charge will apply if you repay more than 10% of the mortgage in the fixed rate period
Interest is calculated daily
An arrangement fee applies

Discount Rate: your initial rate is set at a discount for a 2 year period, after which your rate will be set above the Bank of England Base Rate for the remaining the mortgage term.

You have the option to overpay up to 10% of your initial borrowing a year during the discount rate period.
An early repayment charge will apply if you repay more than 10% of the mortgage during the fixed rate period
Interest is calculated daily
An arrangement fee applies

Direct Line has incentives to encourage you switch lenders (re-mortgage) . These include:

They will pay for your valuation
They will pay for your legal fees
You can overpay