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's 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 mortgages 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 whether a drawdown facility is required. All these elements will have a bearing on the subsequent interest rate that Pure Retirement offer.
The Sovereign A Drawdown Equity Release Plan provides a single capital lump sum,along with a cash reserve facility providing access to funds in the future if and when required. 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.