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Equity-release advisers have welcomed Stonehaven's new market-leading rates.
Stonehaven has reduced the rate for its lump-sum product from 6.08 per cent to 5.92 per cent and its interest-only product from 6.29 per cent to 6.08 per cent.
In Retirement chief executive Ged Hosty says while prices are generally going up because of accurate risk pricing, this new rate is "stunning value".
He says: "This is the first major...