OneFamily Lifetime Mortgages is temporarily withdrawing its products from new business, citing recent instability in the mortgage markets.

Products will no longer be available from close of business on Wednesday 19 October 2022.

Paul Bridgwater, OneFamily’s head of lending, said: “As a responsible equity release provider, we continually review the products we offer. Recent market conditions mean we will be withdrawing lifetime mortgage products for new customers.

“We will monitor the market situation and will assess the right time to re-enter.

“Our existing borrowers and any customers whose applications are in progress can rest assured they will not be impacted by this change.”

OneFamily Advice is not affected by this change. This is a separate part of the OneFamily group that offers whole of market equity release advice direct to customers.