SimplyBiz Mortgages adds OneFamily to equity release panel

SimplyBiz Mortgages has added OneFamily to its equity release panel.

OneFamily’s products include a voluntary payment product which lets up to 10 per cent of the capital be repaid annually.

Its range also includes an interest roll-up product and the choice of fixed or variable interest rates.

There is also downsizing protection for those wanting to redeem their loan when they sell their property after five years.

SimplyBiz Mortgages chief executive Martin Reynolds says: “We know that equity release is going to play a more prominent role within the market over the next few years due to a number of economic factors and, with this in mind, we have been reviewing our equity release proposition to members.

“The addition of OneFamily to the panel is one of a number of new initiatives which we are currently considering.”

OneFamily sales director Jon Tweed says: “We are very pleased to be a new provider on the SimplyBiz Mortgages panel, offering our products to a new host of financial advisers. With the market growing so rapidly, we want to ensure advisers are able to offer lifetime mortgage products to suit their client’s variable needs.

“That’s why we aim to offer a range of payment plans and the choice of fixed or variable interest rates. ”