OneFamily launches two-year fixed lifetime mortgage

Rates start from 3.9% dependent on the loan-to-value and product type, as the 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.

Simon Markey, CEO at OneFamily commented: “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.”