Pure Retirement has announced the launch of its new Pure Servicing Solutions equity release sub-brand.
The new project offers partners two levels of lifetime mortgage service: origination and servicing or servicing only, meaning there’s a partnership solution to suit a variety of needs and circumstances.
Partners who opt for origination and servicing will benefit from Pure’s consistent and effective management of the process, from initial application to completion and beyond. This option is ideal for lenders in equity release looking for a full-service strategic white label partner.
Meanwhile, the servicing only option is suitable for providers who have an originations infrastructure in place but wish to benefit from an experienced servicing team for post-completion management in conjunction with their own underwriters.
Pure offers extensive knowledge of loan servicing, property management and customer demographic to provide ‘seamless’ management of accounts throughout the loan’s lifespan.
Partners will have access to a dedicated phone line to ensure efficient communication channels, as well as the full expertise of Pure’s wider team, which currently oversees a combined total loan portfolio of over £2.5 billion.
“In an increasingly competitive marketplace, service is arguably becoming an invaluable differentiator,” says John Wilson says head of proposition at Pure.
“We’re incredibly proud of our award-winning service, and being able to offer our resources to external parties is the next natural step of our wider strategy, helping to grow the market by ensuring that lifetime mortgage customers have the best possible end to end experience.”
Suzanne Latimer, head of mortgage servicing, adds: “Following the comprehensive expansion of our servicing team, it’s fantastic to have the knowledge and skills to be in a position to work with external parties and share the resources we’ve built up to ensure that they – and their customers – have a first-class experience with the later life lending sector.”
“We’ve a strong customer-focused culture throughout the business, with multiple service-related award wins, and we look forward to sharing our expertise with external partners going forward.”