OneFamily Press Releases

Press releases and research from OneFamily. The information on these pages is intended for journalists. If you’re not a journalist, visit Talking Finance for the latest articles on family, finance and wellbeing.

Lifetime mortgages popularity soaring amongst wealthier homeowners

12 Dec 2018

According to OneFamily data, the price of a property OneFamily lends on is now 59% higher than average, at £370,483 versus a nationwide price of £232,554.

The trend for increasingly expensive homes being used for OneFamily Lifetime Mortgages demonstrates they are being used as a product of choice in retirement planning for an increasing number of homeowners.

Personal finance lessons failing school children

21 Nov 2018

Secondary schools are failing to equip teenagers with the financial capability they will need in the real world, according to research among teachers.

The research, from financial services provider OneFamily, reveals that half (50%) of secondary school teachers rate the personal finance lessons delivered as part of their school’s personal, social, health and economic (PSHE) education as either satisfactory or poor.

Pocket money economy worth £224 million a year

16 Nov 2018

Research from financial services provider OneFamily has revealed that the UK pocket money economy is worth £224 million, with children receiving an average of £359 a year.

On average children get £6.90 a week, starting from the age of five, until the child turns 18. In most families (58%), mum gives the lion’s share , with dad handing out the cash in a third of families (29%) and in one in ten families (9%) it is the grandparents that splash the cash.

Northern cities rated best places to live

09 Nov 2018

Sunderland, Aberdeen and Leeds have been rated the best places to live and work, according to OneFamily's new Liveability index.

The Liveability Index, created by financial services provider OneFamily, ranks Britain’s towns and cities with over 200,000 residents. The index is based on both the balance of income and costs of living in each place, as well as how residents feel about living there. The index takes into account the cost of living and working, satisfaction with work and commuting, and general happiness levels, as well as levels of concern on issues like job prospects, work-life balance, the local property market and crime.

OneFamily to offer financial advice free of charge to customers

01 Nov 2018

OneFamily’s lifetime mortgage advice service is being offered to existing customers free of charge.

Usually charged at £500, OneFamily Advice offers whole of market lifetime mortgage advice to over 55s, who wish to release some of the money held in their home as equity.

As Saturday jobs become a thing of the past teens embrace the gig economy

11 Oct 2018

A Saturday job was once a rite of passage for most teenagers, but today’s generation are opting for informal, short-term ‘gigs’ as they face a decline in opportunities for traditional teenage work.

According to financial services provider OneFamily, the number of teenagers able to secure a part-time job has halved since their parents’ generation. Just one in five (23%) now have an ‘official’ job compared to 43% of their parents. Out of the teenagers that are earning money, the majority (66%) are earning money from doing odd jobs or work with no set hours.

OneFamily enhances variable rate lifetime mortgages

08 Oct 2018

OneFamily has made several enhancements its two-year fixed and variable rate lifetime mortgages. The changes include lower early redemption charges, an increased maximum loan amount and a reduction in interest rates.

Customers will now pay no early redemption charges after eight years, reflecting the increased flexibility that homeowners using equity release are seeking. If customers choose to pay the mortgage back prior to this, they will pay a small percentage of the outstanding loan on a sliding scale from 6% in year one to just 1% in year eight.

Sharing the wealth: £390 million released from property to support loved ones in the space of 12 months

02 Oct 2018

Of the £3 billion released from equity in homes with a lifetime mortgage within the space of a year, £390 million was taken to give a living inheritance to loved ones.

OneFamily research has revealed that one in 10 lifetime mortgages taken by homeowners over 55 were to help their loved ones out financially. Over half (53%) of parents and grandparents over 55 admit they worry about their children’s and grandchildren’s financial futures and a similar number (42%) say it will be harder for children to get onto the property ladder than it was for themselves.

Not so helpful ‘Help to Buy ISA’ DELAYS 45,000 first-time buyers

26 Sep 2018

One in four (25%) first-time buyers claim the Help to Buy ISA is misleading and unhelpful, as the full amount cannot be used towards a deposit for a first home.

According to OneFamily, since its introduction more than 1.2 million savers have opened a Help to Buy ISA, a government-supported savings scheme designed to help people save for their first home, but only 196,000 have actually used it to buy a home.

OneFamily enhances fixed rate lifetime mortgages

06 Sep 2018

OneFamily has enhanced its fixed rate lifetime mortgages by increasing the maximum loan amount from £750,000 to £1 million and reducing interest rates.

The increased loan amount will allow advisers to offer even more customers the opportunity to release equity from their property.