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 the 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 Classic range of plans one of the lowest interest rate and application cost-to-market equity release schemes available.
The Pure Retirement Classic range of drawdown lifetime mortgage plans are funded by Rothesay Life - a leading UK life insurer. There are many versions of the Classic Drawdown plans - the Lite, Midi and Max. The rate quoted is the Classic Super Lite plan and offers the lowest interest rate of the Classic range, with consequential lower loan-to-values. Therefore, the Super Lite plan suits those loooking for the lowest rate, but not such a large cash facility.
Their Classic 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, which enable it to be managed as an interest-only lifetime mortgage plan, Pure aim to offer this flexible equity release scheme to a wider generic audience of retirees.