Canada Life entered the equity release industry following the acquisition of Retirement Advantage which completed in 2018. Prior to the take-over Retirement Advantage was formed by a re-branding of MGM Advantage in 2015, following the purchase of former equity release lender - Stonehaven Equity Release. Tracing its roots back to 1852, Retirement Advantage were a specialist in providing retirement products such as lifetime mortgages and retirement accounts.
Canada Life's range of lifetime mortgage uk plans offer a 'design-it-yourself' approach to equity release. Offering a suite of products such as drawdown, lump sum, erest-only lifetime mortgages and voluntary repayment schemes, plus they have also expanded into Buy-to-Let and Second Home equity release plans.
As additions to these plans, a qualifying homeowner can add-on extra's they require such as cashback, or drawdown facilities. All addition options will influence the final deal available. Couple this with their 8-year fixed early repayment charge makes Canada Life a serious lender in the today's equity release marketplace.
Canada Life’s smartER range has broad appeal and with a wealth of features, is a product that provides many elements of future proofing, which are very important should your circumstances change moving forward.