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Stonehaven Equity Release Rebrand to ‘Retirement Advantage’

Friday, May 29th, 2015

Stonehaven + MGM Advantage rebrand as Retirement Advantage
Further evidence of the progress & changes within the equity release industry has been witnessed this week after Stonehaven rebranded its name to ‘Retirement Advantage’. With effect from 26th May 2015, all Stonehaven’s equity release plans will come under the umbrella of Retirement Advantage.



Who are Stonehaven?

Stonehaven equity release was formed in 2006 as a provider of not just traditional lump sum lifetime mortgages, but innovative interest only lifetime mortgages with a difference. Their concept of being able to service the interest, thus rendering a level lifetime mortgage balance outlived the more conventional mortgage products such as the Halifax Retirement Home Plan which was withdrawn in August 2011.


Stonehaven = Innovation

To date, the Stonehaven range of interest only lifetime mortgages have stood the test of time. It is only recently that new hybrid versions of the Stonehaven Interest Select plans have been developed & now introduced. These voluntary repayment plans from the likes of Hodge Lifetime, Aviva, Newlife & now following suit – Stonehaven, have revolutionised the way equity release is perceived. It is now just the general public & journalists who need to take note of the new wave of flexible lifetime mortgages that can be tailored to any client’s requirements.


Stonehaven’s Recent history

Stonehaven’s success resulted in the company being taken over by MGM in 2014 and slowly their products have been redesigned & renamed accordingly, with a simplification of their offering – Interest Select, Lump Sum & Voluntary Select. Each product now has two further options depending on the level of borrowing required (loan-to-value) & ultimately also affects the interest rate applied. Board level changes have since occurred and the people who were at the core of their initial operation and built their model around the wider distribution model of using mortgage intermediaries as a source of referral business, have since departed.


The New Retirement Arena

We now have a new era in retirement planning & finances. With the demographics of the UK changing, longevity & health factors all combining to make insurers change the way the retirement landscape is evolving. The recent annuity changes have impacted severely on annuity providers of which MGM Advantage has been a major player in this market. These annuity & life insurance companies have had to rethink how retirees will need to manage their finances and stretch them further into retirement. This is probably only the start of what is to come for the over 55’s in the new retirement arena as new products are developed to cater for their needs.


MGM and Stonehaven Together = Retirement Advantage

Bringing together two successful retirement companies should lead to a complement of retirement products that can provide retirement solutions. Both MGM Advantage’s annuity and Stonehaven’s lifetime mortgage products are therefore suited to this retirement solution goal. The new retirement brand of Retirement Advantage will further strengthen their retirement proposition with a new retirement account launching soon.


Retirement Advantage is therefore one of the first significant mergers we may see in the retirement arena as equity lenders & insurers vie for the ever more lucrative retirement space. Equity release and annuities are changing for the better, hopefully the sign of more innovative thinking ahead.


For details on Retirement Advantage product range visit our website here where all their lifetime mortgage deals are listed along with a quote request facility.

Alternatively, please call Mark Gregory on 07966 889597 or email mark@equityreleasesupermarket.co.uk to discuss this further.

Want To Generate Income During Retirement?

Friday, August 6th, 2010

As many people in the UK find it hard to maintain a good living, equity release schemes are becoming extremely popular.

Equity release schemes are specially designed for elderly people between 55 to 95 years of age. With an equity release scheme, homeowners can either get a lump sum amount or regular income.

The beauty of equity release schemes is that homeowners can continue to live in their property for their lifetime. When the homeowner passes away, the beneficiaries will sell the property with the lender being repaid from the sale of the property. Once sold, any remaining equity will be passed to the beneficiaries named in the Will, if one has been made. Should the equity release plan holder die intestate, then the net proceeds will be paid in accordance with the rules of intestacy. This happens if the property is sold for a considerably larger amount than what the balance of the equity release is.


Different options of equity release schemes

The reversion companies offer equity release schemes with different options such as tax free lump sum and home income plans. Home income plans are perfect for senior citizens who want their money in the form of a pension. The amount of equity released is distributed as income or pensions for the rest of their life. This would be in the form of an annuity, which is basically exchanging a lump sum in return for a regular income for the rest of your life.

In such cases, if the equity release applicant has poor health then impaired life terms maybe available. which enhance the standard terms normally paid. This is due to the fact that if the annuity provider considers that life expectancy is potentially reduced due to health reasons, then they can increase the lump sum normally available.

The amount that you will receive via equity release scheme will depend on several factors such as your age, the type of property & its current market value.

If you are looking for the best way to generate income during your retirement, equity release can be an excellent solution to assist the enjoyment of your retirement years.


To establish whether you will be eligible for an equity release with enhanced terms, please contact the Equity Release team on 0800 678 5159 or visit the Equity Release Supermarket website byclicking here.


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