Freephone 0800 802 1051
Freephone 0800 802 1051

Pure Retirement Sovereign Drawdown Rates & Details

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Sovereign Drawdown

  • Type Fixed
  • Rate 2.40%
  • APR 2.59%
  • Cashback
  • Free Valuation
  • Free Application
  • Legal Fees Contribution
  • Legal & Advice Fee Contributions*
  • Cashback Options
  • 3-Year No Early Repayment Charge**
  • Downsizing Repayment Charge Exemption***
  • Fixed Early Repayment Charges


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 Sovereign 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, set up fees selected, early repayment charge structure preferred and the size of the future drawdown facility. All these elements will have a bearing on the subsequent interest rate that Pure Retirement apply.

Their Sovereign Drawdown Equity Release Plans provide an initial capital lump sum, which aims to offer a more competitive interest rate than its industry colleagues. Combining balance control measures with their flexible 10% partial repayment facility, 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 Sovereign 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. For property valuations greater than £6m, 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. On Pure's higher loan-to-value products, they have a minimum commencement age of 60. Pure Retirement apply an upper age limit of 90 on their Sovereign drawdown schemes.

The minimum release on the Pure Retirement Drawdown scheme is £10,000 or £45,000 dependent upon the initial loan and interest rate taken. The type of Sovereign plan selected is also determined by the size of the cash reserve facility chosen. Rather than the norm, where the cash reserve is usually the remaining unused funds, the Sovereign plan offers the additional choice of drawdown facilities; 1x the initial loan and 1.5x the initial loan. The lower the drawdown facility, the lower the interest rate applies.

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 Sovereign Key Facts Illustration.


This Pure Retirement 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 maximum cash reserve facility is £1m. 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 are fixed dependent upon which options are selected. These run over a 10 year period and start from either 8% or 10% penalty, reducing over the term. For specific criteria please contact your local Equity Release Supermarket adviser.

A generous free valuation on properties upto £6m in value. For properties valued above this figure, please contact Equity Release Supermarket on Freephone 0800 802 1051.

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.

The contribution towards fee package options come in two formats:-

  • £600 help with legal fees
  • £800 assistance towards advice fees

The cashback offers again have two options available:-

  • Nil Cashback
  • 2% cashback up to £74,999 and then 2.5% cashback over 75,000

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

There is no commitment to making any repayments on Pure's drawdown plans, therefore any partial repayments to Pure Retirement would be subject to any potential early repayment charge.

*The Pure Sovereign 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 is repaid within 3 years of death or long term care of a partner
***Downsizing protection applies once the plan has been in force 5 years and the new property does not meet Pure's acceptable lending criteria. The loan in such cases can be repaid with NO penalty.

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

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