An independent provider of
personal finance information has praised the latest
mortgage and
home insurance package offered by Direct Line.
Traditionally a home
insurance company, Direct Line has launched a three-in-one mortgage offering that includes a mortgage, home
insurance and free home emergency cover.
"It is usually good news for consumers when
lenders try to be innovative or unique with their mortgage products," says mortgage analyst Rachel McKay of financial website Moneyfacts.
She says package options that offer TVs, PCs or even cars with their
mortgages have "limited appeal" because of their "specific nature".
However, Direct Line's Living for Less mortgage package is "much more straightforward", she says, adding that it should have wider appeal.
The add-ons offered by the home insurance company, Ms McKay continues, are "high on the shopping list for those looking to move home or remortgage".
Even though the offering does not have the lowest
mortgage rate currently available on the market, the combination of a "competitive"
interest rate and fee, together with a two-year discount of 25 per cent on online home insurance and free home emergency cover, Ms McKay says this offering is "certainly … worth looking at".
