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Inflow of IFAs predicted for equity release

Equity-release provider Stonehaven says it is seeing signs that the market could be set for an influx of advisers.

It says increasing publicity surrounding the sector and product innovations from lenders will generate more interest in the market.

It says IFAs are gearing up to enter the market in 2007 after experiencing a “consumer pull” for the products over the last three months.

Such a move would be a welcome boost for the sector, which has been dogged over the past few months with regulatory criticism over the quality of advice from small firms and a lack of interest among advisers.

Stonehaven has signed up 130 advisers in less than six weeks, including Christmas and New Year, and now has over 200 on board.

Chief executive Jayne Almond says: “There are encouraging signs for the equityrelease market as more is being written about it and there is a lot of product innovation. Also, with the recent interest rate rise, the price of equity-release products looks better on fixed-term interest roll-up.”

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