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 Lite 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 Lite plan aims to offer a higher potential maximum lump sum than its counterpart - the Lump Sum Classic Super Lite plan. This extra borrowing capacity however does come at the price of attracting a higher interest rate than the Classic Super Lite plan.
Combining balance control measures with their flexible 10% partial repayment facility, along with very competitive lifetime mortgage interest rate, Pure Retirement aim to offer this Classic Lite equity release scheme to a wider generic audience of retirees.