Stone Haven Equity Release

Stonehaven Equity Release was founded in 2006 as a supplier of unique interest-only lifetime mortgages with a twist, as opposed to standard lump sum lifetime mortgages. Their notion of being able to service the interest, resulting in a constant lifetime mortgage balance, outlasted more traditional mortgage plans like the Halifax Retirement Home Plan, which was phased out in August 2011.

Because of Stonehaven’s success, the firm was acquired by MGM in 2014, and its products were gradually modified and rebranded to reflect this, with the simplicity of their offering – Interest Select, Lump Sum, and Voluntary Select. Each product now includes two additional choices based on the amount of money borrowed (loan-to-value), which impacts the interest rate charged. People who were at the core of their early operation and established their strategy around the wider distribution strategy of leveraging mortgage intermediaries as a source of referral business have now gone, as have board-level changes.