This new product therefore is ideal for people who are generally happy with a variable rate but would prefer the stability of a fixed rate for budgeting purposes in the first couple of years – indeed right up until 30th November 2020.
The interest rates for the two year fixed range start from 3.9% MER dependant on the loan-to-value and which OneFamily Lifetime Mortgage is being used.
These include 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 – “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”
A 2-Year Fixed Rate provides them with a fixed interest rate for the first 2 years, until 1st December 2020 means the policyholder will know exactly what interest will be added and help them budget accordingly. After two years this will change to a variable rate, giving them the potential to benefit if interest rates fall in the future.
Contact us
To discuss our Lifetime Mortgage products please contact:
Phone: 0800 802 1645
Email: oflm.sales@onefamily.com
For information on our full range of Lifetime Mortgages products and marketing documents to download please visit our website.
