SimplyBiz Mortgages has added OneFamily to its equity release panel.
OneFamily’s range of products include a voluntary payment product, permitting up to 10% of the capital to be repaid annually. It also includes an interest roll-up mortgage with either fixed or variable interest rates.
The new panel member also offers downsizing protection for customers wishing to fully redeem their loan when they sell their property after five years.
Martin Reynolds, chie executive of SimplyBiz Mortgages, said: “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.”
Jon Tweed, sales director at OneFamily, added: “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. ”
SimplyBiz Group was established in 2002 and provides compliance and business support services to over 2500 financial services firms and 6000 individual advisers across the UK.