OneFamily is a trading name of Family Assurance Friendly Society Limited (the Society) and is a mutual organisation that is owned by, and run for the benefit of, its members. Based in Brighton, OneFamily has over 2.6 million customers.
OneFamily Lifetime Mortgages
Available to homeowners aged 55 or over, the OneFamily Lifetime Mortgages enable you to borrow a one-off lump sum, and then choose whether you want to make monthly interest payments or no payments. Any accumulated interest, along with any charges, will be repaid when you die or move into long-term care. With the Lifetime Mortgage you will always retain ownership of your home and your home will never be repossessed.
Other Services
OneFamily also offers Lifetime ISAs, Junior ISAs, Ethical Equity ISAs, Over 50s Life Cover, Child Trust Funds and Bonds.
OneFamily Reviews and Ratings
Online reviews for OneFamily are generally very good with users in particular praising the easy, straightforward process and helpful, friendly customer service experience. Some of the negative feedback includes a lack of regular updates and statements and often poor communication with customers on policy updates.
Trust Pilot – 4.3/5 (based on 269 reviews)
Reviews.co.uk – 5/5 (based on 1 review)
Pros
- Good customer feedback
- Simple, straightforward processes
- Various useful online tools available including a Pocket Money Calculator and Tax Credits Calculator
- Rated five stars for Over 50s Life Cover by Defaqto
- Winner of best Lifetime ISA in the Personal Wealth awards and Moneyfacts five star rating for Lifetime Mortgages and Junior ISA
- OneFamily Foundation offers community and education grants to those in need
- Company is owned by customers, not shareholders
Cons
- Lack of updates and statements can keep customers in the dark
- Some instances of negative reviews and frustrated customers
- No home reversion plans
- No extensive equity release products; only two lifetime mortgage options
Website: OneFamily