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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.

Fixed fee rather than a percentage

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 £950, that’s it.

Advice, valuation and legal fees

Our advice fee - It is only once your lifetime mortgage completes that this fee becomes payable

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.

Our Fixed Fee 1.95% Fee 2% Fee 2.25% Fee
£100,000 £950 £1,950 £2,000 £2,250
£80,000 £950 £1,560 £1,600 £1,800
£60,000 £950 £1,170 £1,200 £1,350
£40,000 £950 £780 £800 £900
£20,000 £950 £390 £400 £450

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Maximum loan amount:

Important: The loan amounts above are an illustration of the amount you could borrow. The actual amount may vary depending on your individual circumstances. The figures are not guaranteed and do not constitute an offer to lend. The loan amount will need to pay off any existing mortgage secured against the same property.

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