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Pure Sovereign A Lump Sum Rates & Details

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Sovereign A

  • Type Fixed
  • Rate 6.44%
  • APR 6.86%
  • Free Valuation
  • Cashback Options
  • 3-Year No Early Repayment Charge**
  • Downsizing Repayment Charge Exemption***
  • Fixed Early Repayment Charges


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 lump sum 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 Lump Sum Equity Release Plan provides a single capital lump sum, which aims to offer a more competitive interest rate. Combining balance control measures with their flexible 10% partial repayment facility, along with competitive lifetime mortgage interest rate, Pure Retirement aim to offer this lump sum equity release scheme to a wider generic audience of retirees.


The Pure Retirement Sovereign Plan A plan is specifically designed for homeowners looking for a bespoke equity release plan which can suit their needs now and into retirement.

The minimum property valuation applicable to this Pure Retirement Lifetime Mortgage is £70,000 with no maximum value applicable. For property valuations greater than £6m, contact the Equity Release Supermarket team on Freephone 0800 088 5898 for a bespoke quotation.

The property location needs to be within England, Wales and mainland Scotland and must be the homeowners main residence to be acceptable.

Pure Retirement's Sovereign A lump sum equity release is available on both a single and joint life basis, with a minimum age of 55 for the youngest homeowner and also for joint applicants. Pure Retirement apply an upper age limit of 90 on their Sovereign schemes.

The minimum release on the Pure Retirement Sovereign lump sum scheme is £10,000 or £20,000 if the cashback version is selected.

Due to the many combinations of options available, it's always advisable to discuss with your local Equity Release Supermarket adviser on Freephone 0800 088 5898 and request a personalised Pure Retirement Sovereign Key Facts Illustration.


This Pure Retirement Sovereign A plan provides an initial tax-free lump sum cash release for immediate use with or without a drawdown facility.

Early repayment charges are fixed dependent upon which options are selected. These run over a 10 year period and start from 8% for the fee free and standard product with an application fee. However, if the cashback version is selected the ERC's start at 10% penalty, and both reduce to zero penalty after the 10th year. For specific criteria please contact your local Equity Release Supermarket adviser.

A generous free valuation on properties upto £6m in value. For properties valued above this figure, please contact Equity Release Supermarket on Freephone 0800 088 5898.

Pure Retirement are members of the Equity Release Council, thus all plans have a no-negative equity guarantee built into the product. Therefore, following the eventual sale of the property on death or long term care, the beneficiaries cannot be left with personal debt owing to the equity release lender.


Pure Retirement offer various combinations of application fees and cashbacks towards the set-up of these equity release UK schemes. These can be with or without an application fee, or including a 4% cashback. All variations will affect the interest rate accordingly.

The Pure Sovereign A scheme is essentially designed as a roll-up lifetime mortgage, however 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. The minimum amount that can be repaid is £50 and a maximum of 12 repayments can be made every 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 Sovereign plan comes with the option of choosing whether to pay the application fee, or not. By selecting the fees free deal will increase the interest rate accordingly
**The 3-year no early repayment charge applies to joint life plans where the loan is repaid within 3 years of death or long term care of a partner
***Downsizing protection applies once the plan has been in force 5 years and the new property does not meet Pure's acceptable lending criteria. The loan in such cases can be repaid with NO penalty
****Rate quoted applies to Sovereign A equity release loans with an application fee of £895.

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

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