Lifestyle Platinum
  • Retirement Advantage - Lifestyle Platinum Logo
  • Rate: 6.39%
    APR: 6.70%
    Incentive: Yes
    Offers: Free Unlimited Valuation Offer | Cash Reserve Facility Option | Fixed 8 Year Early Repayment Charges | Inheritance Guarantee Inclusive


Retirement Advantage was created when MGM Advantage acquired the former equity release lender Stonehaven Equity Release. As part of MGM Advantage’s re-branding, Retirement Advantage was created but the provider continued its quality of service and products. Retirement Advantage continues to provide retirement products including lifetime mortgages and maintains its retirement account.


The Lifestyle Platinum product offered by Retirement Advantage is a core product of its Lifestyle options portfolio of products. These products work best for those borrowers who do not want to make monthly payments on their loan and looking for a larger cash lump sum than both the Lifestyle Lite & Gold products can offer.

The Lifestyle Platinum is offered on a single or joint basis. On a single basis, the borrower must be between the ages of 60 and 90. On a joint basis, the youngest borrower must not be over 90 years old.

The minimum loan amount with this product is £10,000 with a maximum of £750,000. For loans greater than £750,000, bespoke quotations are still available, hence please contact the Equity Release team on 0800 678 5159 for your personalised Retirement Advantage Interest Select Gold Key Facts Illustration. The property must be located in England, Wales or Scotland to be eligible and the valuation of the property must be between £70,000 and £6 million. Those properties that are valued higher than £6 million can still be reviewed on case by case basis. The LTV percentage starts at 32% for age 60 and ends at 52% for borrowers aged 80-90.


The early repayment charge on the Lifestyle Platinum stays fixed for the first full 8 years following the initial completion. For years 0-5, the early repayment charge is 5%. For years 6-8, the charge is 3% and there is no charge for years 9 and over. Borrowers are also able to port the loan and move it to another property if they so choose.

There is an inheritance guarantee offered with this product that comes free of charge to the borrower. This allows the borrower to leave behind some form of inheritance to their loved ones if they would like to do so. Similarly, there is also a no negative equity guarantee that comes with the Lifestyle Premium product. This means that if the eventual sale of the property does not cover the full remaining cost of the loan, there is no debt owed by the remaining family members.

With the Retirement Advantage Lifestyle Platinum, borrowers can take advantage of borrowing additional funds in the future if necessary. The minimum loan amount available is £4,000.

There is a cash reserve facility available with the Lifestyle options products as well. If borrowers want to use this feature, they can expect to incur an increase in their interest rate of 0.2%. The minimum withdrawal amount is £2,000 and the maximum is whatever is remaining in the cash reserve facility. The amount in the cash reserve facility is fixed at its outset and does not increase with property value or age.


The Lifestyle Options products from Retirement Advantage offer a suitable option for those borrowers who do not want to make monthly payments, or who cannot afford to make monthly payments, but who would still like to take advantage of a cash lump sum payment. So, those who are unemployed or self-employed fit well with this product. Likewise, those borrowers who would not be able to prove affordability can take advantage of the Lifestyle Platinum. In addition, this product works well for those who want a higher loan-to-value & a competitive interest rate.

The No Negative Equity guarantee as well as the Inheritance Guarantee make this a good option for homeowners who want to ensure that they can both take advantage of a lifetime mortgage product and still leave behind and inheritance to loved ones.

To obtain further information, or to request a quotation on the Retirement Advantage Lifestyle Platinum Lifetime Mortgage, please contact the Equity Release team on 0800 678 5159 today.