Direct Line Mortgages launch first online only product

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Direct Line Mortgages launch first online only product

Online mortgages are on the verge of take off, according to research by Direct Line Mortgages, which has announced the launch of its first online only product today.

According to the research, personal contact is still important to people when they are looking for a mortgage deal, but once they have visited their mortgage broker or local bank, 52 per cent of people then search out the best deals online.

Direct Line Mortgages say that nearly twice as many people would apply for a mortgage online if they could be certain of getting the cheapest deal available.

The online mortgage market looks ripe for growth as 80 per cent of those surveyed said they expected online mortgages to increase in popularity.

David Dyer, commercial director for Direct Line Mortgages, said: "Many people realise that the best way to achieve value for money is to go online, as they do currently when taking out a personal loan. That same philosophy will increasingly apply to buying your mortgage."

Direct Line Mortgages offer a range of fixed-rate and discount tracker mortgages.

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