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Pure Retirement Classic Super Lite Details (Voluntary)

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Classic Super Lite

  • Type Fixed
  • Rate 6.14%
  • APR 6.43%
  • Free Valuation
  • Free Application
  • 10%pa Voluntary Partial Payment Option
  • Fixed Early Repayment Charges
  • Downsizing Protection
  • Guaranteed Inheritance
  • Free Fees Option*
  • 3-Year ERC Exemption**


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.


The Pure Retirement Classic Voluntary Repayment Plans are only available via a limited number of specialist equity release intermediaries, of which Equity Release Supermarket is pleased to have been chosen as one. The Pure Classic's are geared towards those looking for flexibility with repayments & access to capital both immediately & throughout retirement, whenever demand arises.

The minimum property valuation for the Pure Retirement Classic Plans is £125,000, with a maximum UK property value of £2 million. The property must be a main residence and be located within England, Wales, Mainland Scotland & Isle of Wight. Pure Retirement will only take 85% of the valuation into account when assessing the value of flats and maisonettes.
Pure Retirement will accept freehold properties within the UK, and leasehold properties in England & Wales. Pure's criteria for leaseholds is defined as a minimum of 90 years. Additionally, the age of the youngest applicant, plus the remaining term of the lease must total a minimum of 160 years.

The Pure Retirement Classic Voluntary Payment Super Lite Plan is available upto a maximum of two applicants on a single & joint life basis. The minimum age at inception is 55 years, with a maximum age at entry of 80 (of the youngest).

The minimum loan for this Classic Partial Payment plan is just £10,000, with a maximum release of £1 million. For loans greater than £1 million bespoke quotations maybe available, hence contact Equity Release Supermarket on 0800 088 5898 for your Pure Retirement personalised Key Facts Illustration.


Pure's Classic Voluntary payment plans are essentially lifetime mortgage schemes which aim to provide an initial cash lump sum, with the option to make repayments. Although initial borrowing may be available in the future, these plans are effectively single lump sum plans, where no additional drawdowns are likely in the future.

An inheritance protection feature provided by the Pure Retirement Classic range is the Guaranteed Inheritance Feature. At no extra cost to the homeowner, Pure Retirement will automatically protect a proportion of the future sale value of the house based on the amount initially withdrawn. This will be amended as and when additional monies are drawndown.

The Classic Voluntary Payment equity release plans come with a Downsizing Early Repayment Charge Exemption. This feature becomes effective should the homeowner decide to sell-up once the plan has been in force for 5 years. If the property they intend to move to does not meet Pure Retirement's lending criteria, then the loan can be repaid with NO penalty.

Pure offer a fixed early repayment charging (ERC) system on their Classic Super Lite product. These ERC's start at 10%, reducing by 1% per annum to year 10. The ERC is thereafter maintained at 1% to year 15, after which no penalty is then levied.

There is currently a generous free unlimited valuation on the Classic Voluntary range of lump sum plans, enabling a fee free entry on application.

All versions of the Pure Retirement Classic plans come with the industry recognised 'No Negative Equity Guarantee'. Pure Retirement are members of the Equity Release Council, therefore ensure that any beneficiaries cannot by burdened by any debt over & above the final value of the property.


Although this Classic Lifetime Mortgage scheme is a essentially designed as a roll-up equity release scheme, Pure have included a 10% Voluntary Payment Option. Voluntary payments allow the homeowner to make ad-hoc repayments of 10% of the original amount borrowed each year with NO penalty, after the plan has been running 6 months.
Paying off elements of the interest charged can help manage the future balance of the plan, and can therefore be operated on an interest-only or 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 Retirement Classic 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 early repayment charge exemption applies to joint life applications should the loan be repaid within 3 years of death, or long term care of the partner.

To obtain further information, or to request a personalised quotation on the Pure Retirement Classic Voluntary Repayment Super Lite Scheme, please contact the Equity Release Supermarket team on 0800 088 5898 today.

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