OneFamily has become the latest lender to be added to Personal Touch’s equity release panel.
Personal Touch’s members will have access to OneFamily range of lifetime mortgage products. Each mortgage application is considered on a case-by-case basis and direct access is given to its team of underwriters.
The OneFamily Lifetime Mortgage range includes an interest payment product that allows a client to pay off up to 100% of the interest, voluntary payment where clients can pay off up to 10% of the capital and interest roll-up. All of these products come with the option of a fixed or variable rate. There is also downsizing protection for those customers who may wish to fully redeem their loan when they sell up after five years.
OneFamily has also recently introduced a new two-year fixed lifetime mortgage, which is a variable rate product but has a frozen rate of interest until 30th November 2020 and on 1 December 2020, will revert to a variable rate based on the Consumer Price Index (CPI) for the remainder of the mortgage. It is available on Interest Roll up and voluntary payment options.
Vikki Jefferies (pictured) at Personal Touch said: “We are delighted to work with OneFamily, their focus on the equity release market in the past few years has been significant. As a network, we recognise growth in customer need in this market and we very much welcome them to the Personal Touch proposition.”
Jon Tweed, head of intermediary sales at OneFamily, added: “With the market growing so rapidly, we want to ensure advisers are able to offer lifetime mortgage products to suit their client’s different needs. That’s why we offer a range of payment plans and the choice of fixed or variable interest rates.”
