Changes to OneFamily Lifetime Mortgage Variable Rate
Please find below an update of some forthcoming changes to OneFamily’s Lifetime Mortgage products effective 1 December:-
Removal of Variable Interest Payment Rate (Lite and Standard) from New Business:
The last date that we will accept Variable Interest Payment applications will be 30th November.
Variable rate product changes:
The CPI will be increasing to 3.1% which will mean the new MERs on Variable rate products will be:
* Variable Lite Interest Roll up with Voluntary Payment: 5.40% (5.54% AER)
* Variable Standard Interest Roll up with Voluntary Payment: 5.80% (5.96% AER)