Lifetime mortgage lender launches

Lifetime mortgage lender launches



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OneFamily has announced plans to move into the lifetime mortgage market during the first half of 2016.

The launch, which is subject to regulatory approval, will see a new range of products available exclusively to intermediaries.

Simon Markey, CEO of OneFamily said: “The lifetime mortgage market is growing rapidly, as more homeowners over the age of 55 make use of their housing wealth to support their finances in later life. 

“OneFamily is the modern mutual designed to help families who want to help each other meet the financial demands of modern life.

“With that as our driving ambition and strategy it is only natural we should seek to enter the lifetime mortgage market and to do so in such an innovative way.

“These new products will allow an intermediary’s clients and their families to make the best use of their most valuable asset, their home.”

Customers and their families will be able to pay some or all of the interest each month; flexibility which will help to avoid any negative impact of rolled-up interest. 

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