Retirement Advantage

Previously known as MGM Advantage and Stonehaven, Retirement Advantage are a well-established company that can trace its roots back to 1852. In 2015, they changed their name to Retirement Advantage - merging their retirement income and equity release divisions, to help them provide those who are in, at or approaching retirement with a range of simple, secure and flexible products to suit their needs.

Every year, thousands of retirees rely on Retirement Advantage for their income. They have more than £1 billion of funds under their management, and a heritage dating back over 150 years. What's more, they're rated as financially strong by AKG (an independent company that specialises in providing ratings for the financial services industry).

Procuration Tables

Gross fee paid by lenderProcuration fee to intermediary

2.50% (min £500** / no max)

All information correct as at 11/07/2015

2.30% (min £500** / no max)

All information correct as at 11/07/2015

Overview

What they do

As a company that specialises in retirement, they believe they know the needs of their customers better. Their award-winning expertise have allowed them to create products that can help your customers live well in retirement, using the money in pensions and/or the value of property. And, to help stay in complete control, they will provide you and your customers with the told you need to plan and track your chosen product over time.

Their products

1. Guaranteed annuity

Their guaranteed annuity aims to:

  • Use a pension fund to pay a regular guaranteed income for life
  • Pay an income appropriate to individual demographic, lifestyle and medical situations
  • Pay a higher income that a standard annuity, if your customer has a medical condition or is a smoker
  • Give the option to provide an income for another person (a second annuitant), for the rest of their life if your customer dies before them

For more information click here.

2. Flexible income annuity

Their flexible income annuity aims to:

  • Pay a regular income for the rest of your customer's life
  • Give a flexibility to change income levels according to lifestyle needs
  • Give retirement income the potential to grow over time
  • Let your customer decide their investment strategy and give them the flexibility to change investment funds within their range of funds
  • Give a minimum income guarantee, so income will never drop below a certain level
  • Give options to provide for another person (a second annuitant) after your customer's death
  • Enable your customer benefit from their continuing survival, because their fund receives monthly lifetime bonuses

For more information click here.

Equity release

Interest select options 

Their interest select options allow your customers to pay some, or all of the interest charged each month. This means they can eliminate, or significantly reduce, the impact of interest roll up.

With these products, your customer can choose how much they pay off, and for how long. Your customers can choose to pay anything between 50% - 100% of the interest each month, from a minimum period of 5 years up to the whole of life.

At the end of the chosen payment term the interest payments will cease and interest will be added to the loan - which means there are no hidden surprises.

For more information click here.

Address

Retirement Advantage
Applications
110 Cannon Street
London
EC4N 6EU

For enquiries

Call: 0800 068 0212

Fax: 0207 681 1638

Email: er-underwriting@retirementadvantage.com

Registration process

Visit: www.retirementadvantage.com