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Pure Retirement Classic Supreme Details

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Classic Lump Sum Supreme

  • Type Fixed
  • Rate 6.66%
  • APR 6.92%
  • Free Valuation
  • Free Application
  • 10%pa Partial Repayment Option
  • Fixed Early Repayment Charges
  • Downsizing Repayment Charge Exemption
  • Fees-Free Option*
  • 3-Year ERC Exemption**


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 attract external funding for its range of equity release plans, which vary from the higher maximum loan, to the lower interest rate end of the market. They also have consideration to minimising set-up costs using cashbacks & fee waivers across their classic - drawdown and lump sum lifetime mortgage plans. This makes Pure Retirement's range of equity release schemes one of the lowest cost-to-market equity release products.

The Pure Retirement Classic Lump Sum Supreme Lifetime mortgage plan is funded by a leading UK life insurer. Their Classic Range of equity release plans provide a simple one-off cash lump sum which can be used to help homeowners improve their retirement.

This Lump Sum Supreme plan aims to offer a higher potential maximum lump sum than most of the standard classic range. This extra borrowing capacity however does come at the price of attracting a higher interest rate than the Classic Super Max plans.

Combining balance control measures with their flexible 10% partial repayment facility, along with competitive lifetime mortgage interest rate, Pure Retirement aim to offer this Classic Supreme equity release scheme to a wider audience of retirees.


The Pure Retirement Classic Lump Sum Supreme Plan is only available via a limited number of specialist equity release intermediaries, of which Equity Release Supermarket is one. The plan is geared towards those looking for a higher capital amount, in exchange for competitive rate of interest. Combine this with the flexibility of being able to manage the future balance, means the Classic Supreme plan offers a wealth of attractive features for the right homeowners looking for a higher lump sum.

The minimum property valuation for the Pure Retirement Classic Lump Sum Supreme Plan is £125,000, with a maximum UK property value of £2 million. The property must be a main residence and be located within England, Wales, mainland Scotland & the Isle of Wight. Pure Retirement will only take 85% of the valuation into account when assessing the value of flats and maisonettes.

Pure will accept freehold properties within the UK, and leasehold properties in England & Wales. Pure’s criteria for leaseholds is defined as a minimum of 90 years. Additionally, the age of the youngest applicant, plus the remaining term of the lease must total a minimum of 160 years.

The Pure Retirement Classic Lump Sum Supreme Plan is available upto a maximum of two applicants on a single & joint life basis. The minimum age at inception is 55 years, with a maximum age at entry of 84 - of the youngest.

The minimum loan for the Classic Lump Sum Supreme plan is just £10,000, with a maximum release of £1 million in England and £515,000 for Wales & Scotland. For loans greater than £1 million bespoke quotations maybe available, hence contact Equity Release Supermarket on Freephone 0800 088 5898 for your Pure Retirement personalised Key Facts Illustration.


Pure’s Classic Supreme plans are simple lump sum lifetime mortgages with a fixed interest rate for the life of the plan and aims to provide an initial cash lump sum to spend as one wishes.

The Pure Classic Lump Sum Supreme equity release plan comes with a Downsizing Early Repayment Charge Exemption. This feature becomes effective should the homeowner decide to sell-up once the plan has been in force for a minimum of 5 years. If the property they intend to move to does not meet Pure Retirement’s lending criteria, then the loan can be repaid with NO penalty.

This range of Classic plans between Pure Retirement and Rothesay have come with clarity over their early repay charges. The Classic Supreme Lump Sum plan has defined early repayment charges (ERC’s) which means a fixed percentage of the amount repaid will be charged within a stated period. These start at 10%, reducing by 1% per annum to year 10. The ERC is thereafter maintained at 1% to year 15, after which no penalty is then levied.

There is currently a generous free unlimited valuation on the Classic Supreme range of lump sum plans, plus NO application fee option, thus enabling a fee-free entry upon application to the scheme.

All Pure Classic Lump Sum Supreme plans come with the industry recognised ‘No Negative Equity Guarantee’. Pure Retirement are members of the Equity Release Council, therefore ensure that any beneficiaries cannot by burdened by any debt over and above the final value of the property.


Although the Classic Lump Sum Supreme scheme is a essentially designed as a roll-up lifetime mortgage, Pure have included a 10% Voluntary Payment Option. This allows the homeowner to make ad-hoc repayments of 10% of the original amount borrowed each year with NO penalty, immediately after the plan has started. The minimum amount that can be repaid is £50 and a maximum of 12 repayments can be made in any one year.

This can help manage the future balance of the plan, and can therefore be operated on an interest-only or even capital and repayment basis, or just ad-hoc whenever the need arises. This can be important to those looking to ensure their beneficiaries acquire some form of inheritance.

*The Pure Classic Lump Sum Supreme Plan comes with the option of choosing whether to pay the application fee. The rate shown is with the application fee payable of £500. By selecting the fees-free deal will increase the interest rate accordingly.
**The 3-year early repayment charge exemption applies to joint life applications should the loan be repaid within 3 years of death, or long term care of the partner.

To obtain further information or to request a quotation on the Pure Retirement Classic Lump Sum Supreme scheme, please contact the Equity Release Supermarket team on Freephone 0800 088 5898 today.

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