OneFamily Lifetime Mortgages has briefly taken down its new business products, citing “recent instability in the mortgage markets”.
The company said that products will no longer be available from close of business tomorrow, 19 October.
OneFamily Lifetime Mortgages offers a range of lifetime mortgage products on both fixed rate and variable rates, with a selection of loan to values available.
It was created from the merger of Engage Mutual and Family Investments in 2014, and lifetime mortgages were launched in 2016.
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.”
The company said that OneFamily Advice was not impacted by the change, as it was a separate part of the group that offered whole of market equity release advice direct to customers.
Other later life lenders such as Canada Life and Livemore paused new lending at the end of September.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
