One Family Equity Release Review
- Whole of market advice
- Members of the Equity Release Council
- Free initial consultation
Once you have read the One Family 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 One Family
This equity release review focuses on One Family, formally known as Engage Mutual.
One Family 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, One Family 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.
One Family equity release service
Although One Family used to offer a range of lifetime mortgages and continue to service existing customers, they have currently suspended new business.
Instead, they offer whole of market advice through their team of specialist equity release advisers.
Are you eligible for One Family Equity Release?
Once you have read our equity release reviews, before you decide on equity release with any provider it is important that you fully understand the implications of a lifetime mortgage; look at all the options available to you and discuss everything with the family.
Eligibility for equity release through One family will depend on the providers 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.
The costs associated with putting a One Family lifetime mortgage in place are the valuation, completion, solicitors and advisers fees
All One Family advisers are members of the Equity Release Council so abide by their standards and safeguards.
All lifetime mortgages through One Family 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 providers 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.
One Family Equity Release Calculator
The One Family equity release calculator gives you an indication of how much equity you could release through their panel of lenders.
For example, if you are a 65 year old living in a house worth £250,000, the One Family equity release calculator shows that you could release up to £95,000.
In order to understand exactly how much you can borrow, you need to speak to an equity release adviser who will access your situation, help you consider the alternatives and then if appropriate, obtain a personalised illustration from One Family for you.
What should I do now?
Now you have read our One Family Equity Release Review, why not read our other equity release reviews to see how they compare.
Remember, when comparing plans, some advisers only work with specific companies. This is one of the reasons we have teamed up with leading specialist Age Partnership, as they compare schemes and have access to preferential rates with leading UK companies like Aviva, Pure Retirement, Just Retirement,Canada Life and Crown.