OneFamily Advice - what are the costs involved?

To make sure there are no surprises as you go through the process, we wanted to make you aware of the various fees involved with taking out a lifetime mortgage.

Many of our competitors use a percentage fee so that the amount you pay differs depending on the loan size. We believe that it’s important to be transparent in our charging and to help you budget - so we have one simple fixed fee of £750, that’s it.

Advice, valuation and legal fees

Our advice fee – our simple, fixed fee is payable in two stages as the work is completed:

  • The first £250 is payable after you have received our full recommendation and only once you decide to proceed to application.
  • The final £500 is then payable on completion of the mortgage and release of funds. See the table on this page.

Valuation fee – This may be payable depending on your house value and the chosen lender. If required, it is payable at the time you submit your application and will cover the cost of an independent valuation on your property.

Your solicitor’s fee - Your solicitor will charge you a fee for providing you with independent legal advice. You’ll be responsible for paying these fees.

Other fees may apply. These will depend on the product or provider selected. Your adviser will disclose these to you within your personalised illustration.

How our fees compare

Many of our competitors use a percentage fee to charge for their advice. This table helps you see how typical percentage fees compare to our fixed fee over a range of low, average and higher loans.

fixed fee
2% fee 2.25% fee
£100,000 £750 £1,950 £2,000 £2,250
£80,000 £750 £1,560 £1,600 £1,800
£60,000 £750 £1,170 £1,200 £1,350
£40,000 £750 £780 £800 £900
£20,000 £750 £390 £400 £450