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 in the higher maximum loan end of the market. 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 & application cost-to-market equity release schemes available.
The Pure Retirement Classic range of voluntary payment lifetime mortgage plans are funded by a leading UK life insurer. In total Pure Retirement have four different types of plans that all include the voluntary payment option, which include both drawdown & lump sum plans. Each of these have standard & lite versions & are determined by the corresponding amount they will release. The rate quoted is the Classic Lump Sum Voluntary Payment Super Lite plan. The plans only differ in the size of the loans they will provide at certain ages and the consequential interest rates that Pure Retirement apply.
The Pure Lump Sum Classic Partial Payment Equity Release Plan provides an initial capital lump sum, which aims to offer a more competitive interest rate than its industry colleagues. Combining balance control measures with their useful and flexible 10% partial repayment facility, along with competitive lifetime mortgage interest rate, Pure Retirement aim to offer this voluntary payment equity release scheme to a wider generic audience of retirees.