This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM-Cover-Small-210814.jpg
Categories:Equity Release

Stonehaven in equity release return - others set to follow

  • Print
  • Comments (7)

chalk

Stonehaven has returned to the equity release market a year after suspending new lending.

Money Marketing understands there are three other equity release lenders eyeing returns to the market.

The lender suspended new lending last March due to funding problems but said at the time the move was temporary.

Stonehaven were one of many providers which decided to pull out of the market, including Prudential, Northern Rock, Saffron Building Society Coventry Building Society and Retirement Plus.

The lender is launching four interest select products, which allow the borrower to decide how much interest they pay off each month and for how long, and two lump sum products.

LaterLiving equity release planner Simon Chalk (pictured) says: “We are optimistic that we will end the year with more providers than we started out with, marking encouraging growth for equity release.”

  • Print
  • Comments (7)

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Readers' comments (7)

  • Good news all round and definitaly gives clients more choice. Lets see the others.!

    Unsuitable or offensive? Report this comment

  • Brilliant news, we should also see interest rates reduced for consumers and more options as competition in the equity release sector from new lenders continues throughout the year.

    Unsuitable or offensive? Report this comment

  • Brilliant news! So much better to burn your kids' inheritance than to live within your means...

    Unsuitable or offensive? Report this comment

  • This is yet another financial services accident waiting to happen.

    A product levy will prevent us all having to dip our hands in our pockets when it does.

    Unsuitable or offensive? Report this comment

  • Come on Norm dplume....be a bit more positive!!. Equity release is the best financial planning tool in the world if you are out of dosh...you cant take it with you and if you are like my mum...the care homes will get it. I dont live in the Uk anymore BUT Stonehaven may encorage me to come back!

    Unsuitable or offensive? Report this comment

  • I really wished that my mum could have had equity release whilst she was well and not have to sell the house and tip up the proceeds to the care home. It would not have bothered me about spending the inheritance.

    Unsuitable or offensive? Report this comment

  • I have searched the market and found no law or obligation to leave an inheritance to anybody.
    These products need developed to apply to a wide range of older peole with cash flow needs and not just be "roll up" take the equity products. These are good products for the right client and the client is the final arbiter as to the products suitability for them, More interest payable, which protect the equity, products are needed to fill a large gap in the retirement product market.

    Unsuitable or offensive? Report this comment

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Do you think interest rates will rise before the end of the year?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments