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Older homeowners can now release cash from their property more cheaply than ever before, as rates on equity release mortgages have fallen to a new low. Two providers now offer loans with an interest rate of 2.55pc. 

Aaron Strutt of Trinity Financial told The Telegraph: “The biggest equity release providers have been busy undercutting each other to offer the best deals in recent months and they have some super-cheap rates.

“The improvements to pricing and increased flexibility of the deals have moved equity release from being a last resort to a sensible consideration for many people in their retirement.” 

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