OneFamily has launched a new two year fixed offer across its range of lifetime mortgages.

The deal gives homeowners wishing to take equity out of their home the ability to fix their costs until December 2020.

The new two year fixed deal can be applied to any of OneFamily’s lifetime mortgages. These include an interest payment mortgage whereby homeowners can pay off up to 100% of the interest on a monthly basis, a voluntary payment mortgage where customers can pay off interest as and when they wish, and an interest roll-up product.

The interest rates for the two year fixed range from 3.9% MER to 4.7% MER dependant on the loan to  value and which OneFamily Lifetime Mortgage is being used.

Simon Markey (pictured), CEO at OneFamily, said: “The lifetime mortgage market is growing rapidly and at OneFamily we want to offer customers an innovative range of products, which reflect the growing diversity of the types of homeowners seeing the benefits in accessing capital in their homes. By offering this latest deal we can offer consumers both stability and flexibility, and a new way to manage their finances.

“For homeowners in or approaching retirement, lifetime mortgages offer a way to supplement their pension or take out a lump sum to treat themselves to a once in a lifetime holiday, give money to relatives, or pay for home improvements. They are also a great solution for people facing a repayment shortage at the end of an interest-only mortgage with a means of unlocking capital while staying in their home.”