OneFamily Lifetime Mortgages is temporarily withdrawing its products from new business.

Products will no longer be available from close of business (tomorrow), Wednesday 19 October 2022.

The lender says the reason for the move is the recent instability in the mortgage markets.

OneFamily head of lending Paul Bridgwater says: “As a responsible equity release provider, we continually review the products we offer.  Recent market conditions mean we will be withdrawing lifetime mortgage products for new customers.

“We will monitor the market situation and will assess the right time to re-enter.

“Our existing borrowers and any customers whose applications are in progress can rest assured they will not be impacted by this change.”

The provider says OneFamily Advice, a separate part of the group is unaffected by this change.

OneFamily Advice, offering advice direct to customers, is not affected by this change.