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Pure Retirement launches new product range for later life lending

Pure Retirement has announced the launch of its new product suite for advisers, named the Heritage range.

The product, which is available whole-of-market, offers repayment flexibility without sacrificing the wide range of loans-to-value (LTVs) and service that advisers and end-point users have come to respect.

Pure Retirement says it has witnessed a rise in customers exploring equity release and later life lending options, which has, in turn, brought a more diverse series of needs and priorities to the sector for lenders to consider.


The Heritage range offers ERC-free partial repayments across all of its products, allowing up to six payments per 12 months and allowing up to 10% of the advance to be paid over the same period.

Additionally, the product suite follows last year’s Sovereign range in offering ERC-free full repayment of joint plans within three years of one borrower passing away or entering into long-term care.

Open to those aged 60 and above, the Heritage range accepts priorities valued at £70,000 and above (or £100,000 and above if ex-council or ex-MOD) with no maximum value cap. Minimal initial release is set at £10,000 with total cash facilities available up to £600,000 for those living in England and £250,000 for those in Scotland and Wales.

Brendan Gilligan, head of product delivery at Pure Retirement, commented: “We are seeing more demand in the market for plans that provide customers with the option to make voluntary payments, allowing them to service interest and protect equity in their home.”

“Adding these new customer-friendly features to our product range provides brokers with more options to help them meet the needs of their customers, and we’re confident that the Heritage range acts as a great companion to last year’s Sovereign range in offering customers’ flexibility in their retirement.”

Paul Carter, chief executive officer of Pure, added: “As a lender it’s important that we continue delivering products that allow people seeking equity release solutions to enjoy their retirement in whatever way they see fit.”

“In Heritage I’ve little doubt that we’ve created something that fulfils that brief, with a range of options and flexibilities which should enable our customers to manage their plans should their circumstances change over its duration.”


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