A new equity release provider has rolled out its range, reports Financial Adviser (23/11/06).
Stonehaven caught attention in August when it piloted new products such as build-your-own and flexible cash release.
Following a successful pilot, Stonehaven was approved by Safe Home Income Plans in November.
The equity release market is thought to be worth £1.4bn a year, of which £800m comes through intermediaries.
Jayne Almond, Stonehaven’s chief executive officer, said “It is an exciting time for the market. Attitudes towards inheritance are quickly changing. We want to grow consumer confidence in equity release products and ensure advisers are well placed to confidently advise products.
The flexible cash release product provides a drawdown facility. It can be taken either in a lump sum or as regular payments. The build-your-own product enables the adviser to develop a bespoke product.
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