Pull-out due to uncertain mortgage market conditions
OneFamily Lifetime Mortgages has announced that it is temporarily pulling its products from new business, due to the recent instability in the mortgage markets.
The products will no longer be available from close of business tomorrow, October 19, 2022.
“As a responsible equity release provider, we continually review the products we offer,” Paul Bridgwater, head of lending at OneFamily, said. “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.”
Bridgwater also clarified that OneFamily Advice will not be affected as it is a separate part of the OneFamily group that offers whole of market equity release advice direct to customers.