The lender has cut the minimum ages to 55 years for both single and joint applications, down from 60 and 75 respectively.
It said the move will widen the proposition to more customers exploring lifetime lending.
Pure Retirement also said it will be reducing rates to “market leading levels” for each of its respective loan to value (LTV) tiers and introducing a low LTV product which will have the range’s lowest rate at 3.89 per cent monthly.
The above changes will coincide two fee options for advisers: a standard package which comes with a £600 legal fee contribution, and a fees package with 3 per cent cashback for loans starting from £20,000, plus a £900 fee contribution.
Head of intermediary sales Chris Flowers (pictured) said the reduced ages would open up the product to an additional 55 per cent of the market.
“We’re pleased to be able to continue offering greater choice and flexibility to our customers and adviser network,” he said.
CEO Paul Carter added that it was important for the lender to keep developing and evolving what it offered to customers in an increasingly competitive marketplace.
“These changes to our Heritage range allow us to do that and to make a clear statement of intent for the rest of the year and beyond,” he said.