OneFamily Equity Release Review
- Whole of market advice
- Member of the Equity Release Council
- Free initial consultation
Once you have read the OneFamily Review, you could compare equity release reviews from other providers and, as a starting point, use the equity release calculator to see how much cash you could release from your home.
Try the equity release calculator
About OneFamily
This equity release review focuses on OneFamily, formally known as Engage Mutual.
OneFamily is the trading name of the Family Assurance Friendly Society Limited, which is a mutual and therefore owned by and run for the benefit of its members.
It was created in April 2015 by the merger of two award-winning mutuals:
- Engage Mutual
- Family Investments
In addition to providing equity release advice, OneFamily also offer award-winning life insurance and saving and investment schemes.
They are regulated by the Financial Conduct Authority and members of the Equity Release Council, which means they have voluntarily agreed to abide by the principles of their membership.
OneFamily equity release service
OneFamily offer whole of market advice through their team of specialist equity release advisers. Their initial advice is free and, if you go ahead, they charge a set fee regardless of the amount of equity you release.
Are you eligible for OneFamily equity release?
Once you have read our equity release reviews, before you decide on equity release with any provider it's important you fully understand the implications of a lifetime mortgage, look at all the options available to you and discuss everything with your family.
Eligibility for equity release through OneFamily will depend on the provider's lending criteria but, in general, to qualify the following must apply:
- You must be a homeowner aged 55 or over
- Your property is worth at least £70,000
- Your property must be your main residence for at least 6 months of the year
Other conditions will apply such as the type of property but this will be available through your financial adviser.
Additional Information
The costs involved in putting a lifetime mortgage in place through OneFamily are the valuation, completion, solicitors and advisers' fees.
All OneFamily advisers are members of the Equity Release Council so abide by their standards and safeguards.
All lifetime mortgages through OneFamily are covered by the ‘no negative equity guarantee’ which means you will never owe more than the value of your home.
You have the flexibility to move home as long as the new property meets your provider's lending criteria. You may be asked to repay part of the loan if the value of your new property is lower than your current home.
OneFamily equity release calculator
The OneFamily equity release calculator gives you an indication of how much equity you could release through their panel of lenders.
For example, if you're a 65 year old living in a house worth £250,000, the OneFamily equity release calculator shows that you could release up to £90,000.
To understand exactly how much you can borrow, you need to speak to an equity release adviser who will assess your situation, help you consider the alternatives and then, if appropriate, obtain a personalised illustration from OneFamily for you.
What should I do now?
My review of OneFamily equity release is designed to help you compare plans and find the best option for you. I would always recommend that you review all of your options to ensure you’re getting the best deal that suits your budget and needs, seek professional advice and talk to your family.
To see how much cash you could release, why not try our equity release calculator. It's free and easy to use.