Press releases and research from OneFamily. The information on these pages is intended for journalists. If you’re not a journalist, visit our Savings Hub for the latest articles.
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In an effort to get ahead of their finances, one in five millennials (19%) has turned to working in two or more jobs, research from financial services provider OneFamily has revealed.
One in five (19%) over 50s are relying on income from property to fund their retirement, according to new research from OneFamily.
OneFamily has enhanced its Interest Roll Up Lifetime Mortgage meaning customers can roll the interest up and pay nothing, or they can now pay it off as and when they want.
OneFamily data shows that the number of single women taking a lifetime mortgage has increased to one in every three customers (35%) from one in four (23%) just two years ago.
Nearly 70% of OneFamily Lifetime ISA customers are saving for the long-term and planning on using it to fund their retirement.
OneFamily has identified a growing group of over 55s that are using lifetime mortgages to fund property moves to more expensive homes. Buying a new property is now the fourth most popular reason for using a lifetime mortgage as homeowners who are retired, or approaching retirement, move to be closer to family and friends, or better amenities.
OneFamily is urging savers to maximise the opportunity offered by a Lifetime ISA and gain access to the Government 25% bonus. The Lifetime ISA is the only savings account that benefits from this generous monthly bonus and is available to savers from 18 – 39 years old saving for a first home or retirement.
New research from OneFamily has found that the number of ‘Parent-sioners’ is set to increase significantly over the next decade. The findings indicate that more over 60s than ever before will have children under 18 and in the next ten years it will rise from circa 400,000 to over 900,000.
OneFamily is launching a simple, customer-friendly, stocks and shares Lifetime ISA.
OneFamily has launched a funeral cost calculator that enables advisers to calculate the sum assured their clients can receive from OneFamily’s Over 50s Life Cover, based on monthly premium, with the cost of a funeral in their clients local area, both now and into the future.
