Pure Retirement Classic Lump Sum Plan
  • Pure Retirement Classic Lump Sum Plan
  • Rate: 4.71%
    APR: 4.88%
    Incentive: Yes
    Offers: FREE Valuation | No Application Fee | 10%pa Voluntary Payment Option | Fixed Early Repayment Penalty | Downsizing Protection


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 Lifetime mortgage plan is funded by a leading UK life insurer. Their Classic Equity Release Plan provides a simple one-off cash lump sum which can be used to help homeowners improve their retirement. This Lump Sum plan aims to offer a more competitive interest rate than its industry colleagues, at the same loan-to-value range of lending. Combining balance control measures with their flexible 10% partial repayment facility, along with competitive lifetime mortgage interest rate, Pure Retirement aim to offer this equity release scheme to a wider generic audience of retirees.



The Pure Retirement Classic Lump Sum Plan is only available via a limited number of specialist equity release intermediaries, of which Equity Release Supermarket is one. The plan is geared towards those looking for a higher than average capital amount, but at the same time a competitive rate of interest with flexibility in being able to manage the future balance.

The minimum property valuation for the Pure Retirement Classic Plan is £100,000, with a maximum UK property value of £1.5 million. The property must be a main residence and be located within England, Wales, Mainland Scotland & the 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 Lump Sum 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 the Classic Lump Sum plan is higher than most providers at £20,000, with a maximum release of £460,000. For loans greater than £460,000, bespoke quotations maybe available, hence contact Equity Release Supermarket on 0800 678 5955 for your Pure Retirement personalised Key Facts Illustration.



Pure’s Classic plans are simple lump sum mortgage schemes has fixed interest rate for the lifetime of the mortgage & aims to provide an initial cash lump sum to spend as one wishes. The Classic 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 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 plans between Pure Retirement and Rothesay have come with clarity over their early repayment charges. The Classic 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 are set at 6% for the first 5 years, 3% for the next 5 years, 1% for the next 5 years, & finally no ERC after the 15th year.

There is currently a generous free unlimited valuation on the Classic Drawdown range of drawdown plans, plus NO application fee, thus enabling a fee free entry on application to the scheme.

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 & above the final value of the property.


Although the Classic Drawdown scheme is a essentially designed as a roll-up lifetime mortgage, 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, after the plan has been running 6 months.

This 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.


To obtain further information, or to request a personalised quotation on the Pure Retirement Classic Lump Sum Scheme, please contact the Equity Release Supermarket team on 0800 678 5955 today.