This follows rate cuts made at the end of last year, including a sub-six per cent deal priced at 5.94 per cent.  

Pure Retirement also updated its lending criteria to allow for more properties to be lent against. This means properties which are partially used for small business activity are now permitted. This applies as long as there are no products or equipment stored at the property, no structural alterations are required, and there are no changes in the stated planning use and no business rates. 

Pure Retirement will accept historic rent charges of up to £100, previously £25. 

The lender also removed flood risk determination from its government zoning information. Properties will now be subject to tailored flood data checks.   

Scott Burman (pictured), head of distribution at Pure Retirement, said: “While, thanks to prior distribution widening in recent years, a comprehensive proportion of the market has already enjoyed access to our classic range, it’s gratifying to continue that trajectory.  

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“Being able to offer sub-six per cent rates and ever-more flexible lending criteria in the current climate is something we’re incredibly proud of, and we look forward to even more people being able to access this market-leading product.”