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Pure Retirement Heritage Drawdown Rates & Details

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Heritage Drawdown

  • Type Fixed
  • Rate 3.69%
  • APR 3.90%
  • Cashback
  • Free Valuation
  • Free Application
  • Legal Fees Contribution
  • Legal Fee Contributions*
  • Cashback Options
  • 10%pa Voluntary Payments
  • 3-Year No Early Repayment Charge**


Pure Retirement was formed in 2014 as a lifetime mortgage lender with a wealth of industry experience in equity release business behind it. This knowledge has helped Pure Retirement identify a gap in the retirement lending market for homeowners over the age of 55.

Pure Retirement's experience has helped position it's equity release plans both in the higher maximum loan part of the market and lower competitive interest rate end. They also have consideration to minimising set-up costs using cashbacks & fee waivers on their drawdown and lump sum lifetime mortgage plans. This makes the Pure Retirement range of plans one of the lowest interest rate and application cost-to-market equity release schemes available.

The Pure Retirement Heritage range of drawdown lifetime mortgage plans offer many versions dependent upon which options are required to be included within the design of the plan. The plans differ in the size of the loans they provide (LTV's) and the set up fees and cashbacks selected. All these elements will have a bearing on the subsequent interest rate that Pure Retirement offer.

The Pure Heritage Drawdown Equity Release Plan provides an initial capital lump sum, which aims to offer a more competitive interest rate than its industry colleagues and a cash reserve facility. Combining balance control measures with their flexible 10% partial repayments, along with competitive lifetime mortgage interest rate, Pure Retirement aim to offer this drawdown equity release scheme to a wider generic audience of retirees.


The Pure Retirement Heritage Plan is specifically designed for homeowners looking for a bespoke equity release plan which can suit their needs now & into retirement.

The minimum property valuation applicable to this Pure Retirement Lifetime Mortgage is £70,000 with no maximum value applicable. The Heritage plan does insist on a minimum valuation of £100,000 for ex-council or ex-MOD properties. For property valuations greater than £2 million, contact the Equity Release Supermarket team on Freephone 0800 802 1051 for a bespoke quotation.

The property location needs to be within England, Wales and mainland Scotland and must be the homeowners main residence to be acceptable.

Pure Retirement's drawdown equity release is available on both a single and joint life basis with a minimum age of 55 for the youngest homeowner and also for joint applicants. No upper age limit applies on the Heritage range of drawdown schemes.

The minimum release on the Pure Heritage Drawdown scheme is £10,000, with a maximum total cash facility available being £800,000 in England and £250,000 in Wales and mainland Scotland. The version of Heritage plan selected will determine the size of the cash reserve facility chosen. The cash reserve secured will be the remaining unused funds following withdrawal of the initial cash lump sum.

Due the the many combinations of options available, it's always advisable to discuss with your local Equity Release Supermarket adviser on Freephone 0800 802 1051 and request a personalised Pure Retirement Heritage Key Facts Illustration.


This Pure Retirement Heritage Drawdown plan provides an initial tax-free lump sum cash release for immediate use, with the remaining unused cash being retained in a cash reserve facility. The reserve fund is ideal for those needing access to immediate cash, but having the knowledge that their personalised drawdown facility is there for the future; which for some retired homeowners can be vitally important.

Each drawdown scheme offered by Pure Retirement comes with a lifetime fixed equity release interest rate on the initial lump sum. Any further withdrawals in the future will have an interest rate that was applicable at that time. Hence, different tranches can have different interest rate applied.

The minimum withdrawal amount from the cash reserve facility is £2,000 with no further administration charges for any additional drawdown amounts taken. Cash drawdowns can be taken as frequently as possible upto the maximum lending limit imposed by Pure Retirement.

Early repayment charges (ERC) on the Heritage plans are variable and follow the FT-SE 15-Year Gilt Index. The ERC can be anywhere between 0-25% of the cash advance dependent upon the movement in the gilt index. There are exceptions below when ERC's are not applied. For specific criteria please contact your local Equity Release Supermarket adviser.

Pure Retirement are members of the Equity Release Council, thus all plans have a no-negative equity guarantee built into the product. Therefore, following the eventual sale of the property on death or long term care, the beneficiaries cannot be left with personal debt owing to the equity release lender.


Pure Retirement offer various combinations of fee contribution packages and cashbacks towards the set-up of these equity release UK schemes. This assistance with regards to set-up fees make them one of the cheapest company's to set an equity release mortgage up with.

Occasionally, Pure Retirement have special offers which can increase these cashbacks even further, so its always worthwhile contacting the Equity Release Supermarket team on Freephone 0800 802 1051 or visiting our 'Latest Offers' page.

The Pure Heritage plan provides the option of being able to make voluntary repayments of upto 10% each year with no penalty. The only conditions to these partial payments is that they must be a minimum of £500 and following repayment, the balance cannot go below the minimum initial advance of £10,000. Finally, there is a maximum of 6 partial payments allowed each year.

There is no commitment to making any repayments on Pure's drawdown plans, however making voluntary ad-hoc payments can help manage the future balance of the lifetime mortgage.

*The Pure Heritage plan comes with the option of choosing whether to pay the application fee, or not. By selecting the fees free deal will increase the interest rate accordingly.
**The 3-year no early repayment charge applies to joint life plans where the loan can be repaid within 3 years of death or long term care of a partner and no penalty will be applied.
***The Heritage Drawdown plan quoted above comes with an £895 application fee and Pure provide a £400 contribution towards legal fees with no cashback.

To obtain further information or to request a quotation on the Pure Retirement Heritage Drawdown plan, please contact the Equity Release Supermarket team on Freephone 0800 802 1051 today.

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