OneFamily’s lifetime mortgages launch

Published on

OneFamily has revealed that the two new lifetime mortgage products announced last month have now gone live.

The first two products being brought to market by OneFamily Lifetime Mortgages are an interest roll-up product and a roll-up voluntary payment option, which allows the customer to repay 10% of the initial loan each year, without incurring an Early Repayment Charge.

Over the course of the next couple of months, OneFamily will also go live with two interest-paying products, which will include a fixed rate and variable rate linked to Consumer Price Index.

The roll-up product is being launched with fixed interest rates from 4.98% and variable interest rates from 2.96%, whilst the the roll-up voluntary payment option will attract fixed interest rates from 5.45% or variable interest rates from 3.44%.

Georgina Smith, managing director of OneFamily Lifetime Mortgages, said: “We were delighted with the positive feedback we had from media and brokers when we announced our intention to enter the lifetime mortgage market last month.  We wanted to introduce new and innovative features into the lifetime mortgage market, including the option of a variable interest rate.

“We have done this to extend consumer choice and to help grow the market.  These products will complement OneFamily’s vision to enable families to work together to meet the financial demands of modern life.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

South drives first annual asking house price fall since 2024

Asking prices for homes in Great Britain have slipped into annual decline for the...

Rents fall as inflationary pressures mount

Tenants are beginning to feel some respite as rents across Great Britain fall at...

Bank of England set to hold rates as inflation proves sticky

The Bank of England is expected to hold interest rates at 4% this week...

Mortgage pros stride for mental health on Thames Bridges Trek

Mortgage industry pros from Crystal Specialist Finance, Market Financial Solutions, Movin Legal, MT Finance, United...

UK house price growth downgraded amid pre-Budget nerves

The UK housing market is expected to see slower price growth this year and...

Latest publication

Other news

We need clearer guidance on Stamp Duty advice

Just over a week ago Angela Rayner resigned following the discovery of a Stamp...

Getting to know you: Saul Conway, AS Financial

Name: Saul Conway Age: 45 Location: London Qualification Year: 2003 Firm: AS Financial Specialty: Financial Services Entrepreneur Education: Honours Degree...

South drives first annual asking house price fall since 2024

Asking prices for homes in Great Britain have slipped into annual decline for the...