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Pure Retirement Classic Elite Super Lite Rates & Details

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Classic Elite Super Lite

  • Type Fixed
  • Rate 6.14%
  • APR 6.34%
  • Free Valuation
  • Free Application
  • 10%pa Partial Repayment Option
  • Fixed Early Repayment Charges
  • Downsizing Repayment Charge Exemption
  • Fees-Free 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 the over 60's.

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. Pure Retirement's Classic Elite Lump Sum Super Lite schemes has one of the lowest interest rates and application costs for most of the equity release products that are available.


The Pure Retirement Classic Elite Lump Sum Super Lite is specifically designed for homeowners in England with more expensive property values and who are looking for a much higher tax-free lump sum than standard.

The minimum property valuation applicable to this Pure Retirement Lifetime Mortgage is £2 million with a maximum valuation of £5 million.

The property location needs to be within England only and must be the homeowners main residence to be acceptable.

Pure Retirement's Classic Elite equity release mortgage is available on both a single and joint life basis with a minimum age of 55 for the youngest homeowner and a maximum age at application of 84 for the oldest homeowner.

The minimum release on the Pure Retirement Max Drawdown plan is £100,000 with a maximum release of equity being £1,850,000.

For equity release loans greater than £1,850,000k, bespoke quotations maybe available via Equity Release Supermarket. Please call 0800 088 5898 for your personalised Pure Retirement Classic Elite Lump Sum Key Facts Illustration.


The Pure Retirement Classic Elite Lump Sum plan has been developed for higher net worth property owners looking for a higher than average equity release lump sum.

This Pure Retirement Lifetime Mortgage scheme provides a one-off tax-free cash lump sum for immediate use and spend as the homeowner wishes. Pure Retirement aim to not only provide some of the highest maximum loans, but also the lowest set-up costs thus potentially creating the largest equity release sum in the hands of the homeowner.

The Classic Elite plan offered by Pure Retirement comes with a lifetime fixed equity release interest rate. Pure’s Classic plans are simple lump sum schemes with a fixed interest rate for the lifetime of the mortgage & aims to provide an initial cash lump sum to spend as one wishes.

The Pure Classic Elite Super Lite Lump Sum 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 a minimum of 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.

This range of Classic Elite plans between Pure Retirement and Rothesay have come with clarity over their early repayment charges. The Classic Elite Super Lite Lump Sum plan has defined early repayment charges (ERC’s) which means a fixed percentage of the amount repaid will be charged within a stated period. These 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 Elite range of lump sum plans, plus the option over whether to pay an application fee; thus enabling a fee-free entry upon application to the scheme, if desired.

All 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 and above the final value of the property.

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 upon death or long term care, the beneficiaries cannot be left with any personal debt owing to the equity release company.


Although the Classic Elite Lump Sum Super Lite scheme is a essentially designed as a roll-up lifetime mortgage, Pure Retirement 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, immediately after the plan has started. The minimum amount that can be repaid is £50 and a maximum of 12 repayments can be made in any one 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 Classic Elite Super Lite Plan comes with the option of choosing whether to pay the application fee. 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 quotation on the Pure Retirement Elite Super Lite Lifetime Mortgage, please contact the Equity Release Supermarket team on 0800 088 5898 today.

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