Paradigm Mortgage Services has today added lifetime mortgage provider, OneFamily, to its panel boosting the range of equity release product options available to its member firms.
From today, Paradigm members who are authorised and qualified to offer equity release advice, will be able to access OneFamily’s lifetime mortgage products for their later life clients.
OneFamily’s range of lifetime mortgages have a five-star rating from MoneyFacts and comply with Equity Release Council standards. The products include fixed and variable rates, and options to make monthly interest payments or flexible payments.
Paradigm member firms will have direct access to OneFamily’s sales and underwriting teams who assess each case individually. Plus, there are a range of tools available on the OneFamily website including a lifetime mortgage calculator.
OneFamily offer a range of products including lifetime mortgages, Over 50s life cover, lifetime ISAs, junior ISAs, bonds and child trust funds. The business has over 40 years’ experience in providing financial solutions and has over 2.6 million customers with £7.4 billion in funds under management. The business is also customer-owned meaning profits go back into its business, products and communities.
John Coffield, Head of Paradigm Mortgage Services, commented: “The growth in demand and need for later life lending products has been obvious for some time, however this can be a complex area and it’s important that advisers not only have the right authorisations and knowledge, but they are choosing from the widest array of products and plans available. This is why we are very pleased to be adding OneFamily to our panel, who offer a range of lifetime mortgages that our member firms will now be able to access through Paradigm.
“In a sector which constantly shifts, and where advisers need to keep on top of those changes, it’s absolutely vital that we have an advisory community who are up to speed and have the necessary skills to deal with later life clients. A different approach to the mainstream is needed, and we at Paradigm are working with all those firms who are active, or wish to be active, in this space to ensure they can offer the highest-quality advice standards. We will be working with OneFamily to ensure we deliver on this and that our member firms can develop their later life advice propositions to meet this growing client demographic.”
Chris Brown, Strategic Account Manager at OneFamily, said: “We are delighted to be working with Paradigm Mortgage Services to help them develop their members’ firms in the later life arena and we look forward to supporting them with their requirements in this growing sector of the market.”