OneFamily Lifetime Mortgages temporarily withdraws products
The lender says it will monitor the market situation and assess the right time to re-enter.
"Recent market conditions mean we will be withdrawing lifetime mortgage products for new customers."
OneFamily Lifetime Mortgages has announced that it is temporarily withdrawing its products from new business due to recent instability in the mortgage markets.
Products will no longer be available from close of business on Wednesday 19th 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 the change.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
State Pension
Budget: Government signals income tax write off for state pensions exceeding personal allowance
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
State Pension
Budget: Government signals income tax write off for state pensions exceeding personal allowance
FCA
FCA announces new measures to support growth of mutuals sector
Nationwide
FCA fines Nationwide £44m for inadequate financial crime controls
