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OneFamily waives wet signature requirement to allow remote applications

  • 23/04/2020
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OneFamily waives wet signature requirement to allow remote applications
OneFamily has updated its processes to allow lifetime mortgages to be progressed remotely by gaining verbal consent from clients over the telephone or video call in place of wet signatures.


Advisers no longer need to obtain signed forms for the lender’s lifetime mortgages and can continue with an online application on behalf of their clients.

Additionally, surveyors who have knowledge of the area will be undertaking desktop valuations.

However, as this method may provide less information than a physical valuation, OneFamily will operate an adjusted credit policy and retain part of the agreed loan for release once physical valuations can resume and the value can be confirmed. 

Legal advice to the customer can now also be given remotely, in line with recent updates to Equity Release Council guidance. 

OneFamily head of lending proposition Paul Bridgwater said: “We wanted to find a way to enable people to make applications for our lifetime mortgages, despite the restrictions placed on them during the current crisis. 

“Therefore, we are adjusting our processes so that, combined with the Equity Release Council’s temporary modifications on legal advice, customers can now complete our lifetime mortgages completely remotely. 

He added: “We’re all working in a challenging environment right now and, as an industry, the lifetime mortgage market has needed to think differently. 

We wanted to ensure we can keep supporting customers within the framework of the current government guidance. Hopefully this will help them to do that.”


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