Paradigm Mortgage Services has added OneFamily to its provider panel to boost the range of equity release product options available to its member firms.

Paradigm member firms, who are authorised and qualified to offer equity release advice, will be able to access the lifetime mortgage provider’s products for their later life clients.

OneFamily’s range of lifetime mortgage products, which comply with Equity Release Council (ERC) standards, include fixed and variable rates, as well as options to make monthly interest payments, or flexible payments.

Head of Paradigm, John Coffield, said: “The growth in demand and need for later life lending products has been obvious for some time, however, this can be a complex area and it’s important that advisers not only have the right authorisations and knowledge, but they are choosing from the widest array of products and plans available.

“This is why we are very pleased to be adding OneFamily to our panel, who offer a range of lifetime mortgages that our member firms will now be able to access through Paradigm.

“In a sector which constantly shifts, and where advisers need to keep on top of those changes, it’s absolutely vital that we have an advisory community who are up to speed, and have the necessary skills, to deal with later life clients.”

Paradigm members will have direct access to OneFamily’s sales and underwriting teams who assess each case individually – as well as a range of tools available on the OneFamily website, including a lifetime mortgage calculator.

“A different approach to the mainstream is needed, and we at Paradigm are working with all those firms who are active, or wish to be active in this space, to ensure they can offer the highest-quality advice standards,” Coffield added.

“We will be working with OneFamily to ensure we deliver on this and that our member firms can develop their later life advice propositions to meet this growing client demographic.”

OneFamily, which offers a range of products that includes lifetime mortgages, over-50s life cover, lifetime and junior ISAs, bonds and child trust funds, is also customer-owned – meaning profits go back into its business, products and communities.

OneFamily strategic account manager, Chris Brown, commented: “We are delighted to be working with Paradigm Mortgage Services to help them develop their members’ firms in the later life arena, and we look forward to supporting them with their requirements in this growing sector of the market.”

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