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 some of the most comprehensive and low 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 Plus Equity Release Plan provides a total cash facility from which an initial capital lump sum is taken. The remainder that isn't taken remains in the cash reserve for future use, if required. With their balance control measures including their highly flexible 40% partial annual payment option, Pure Retirement aim to offer this drawdown equity release scheme to those looking at potential shorter term borrowing where repayment of the loan is key to their future plans e.g. receive an inheritance.