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Pure bolsters lifetime mortgage choice with flexible deals and higher LTVs

  • 07/10/2021
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Pure bolsters lifetime mortgage choice with flexible deals and higher LTVs
Later life lending specialist Pure Retirement has brought out a range of lifetime mortgages with flexible repayment options and heightened loan to values to give greater choice to consumers.


The Emerald range will give customers the option to repay up to 12 per cent of the initial amount borrowed annually with no early repayment charge (ERC). Additional direct debit repayments are permitted.

It is available for those aged between 55 to 95. Loans are secured on properties valued between £120,000 and  £2m. The minimum property value is £150,000 for ex-local authority properties and the maximum property value is capped at £1m in Wales and Scotland.

LTVs range from 29.5 per cent for those aged 55 to 57.5 per cent for those aged 82 and above. Cashback of four per cent is also available.

The minimum initial loan amount is set at £10,000, or £20,000 on cashback products with the maximum loan amount capped at £950,000.

Drawdown facilities are available along with arrangement fee-free options, downsizing protection and fixed ERCs.

The range has the same personalised pricing as its classic range, which the lender brought out earlier this year. It is based on loan amount, age, property value, property type and location.

Pure Retirement’s product head, Brendan Gilligan (pictured), said that the range gave consumers greater choice at the higher LTV end of the market.

He said: “With consumer confidence returning and many reassessing their retirement priorities, it’s more important than ever to be offering a range of innovative and flexible products that meet customer needs.

“The launch of the Emerald range builds on the innovation we’ve been undertaking throughout the year, by offering a comprehensive package of attractive features encompassing flexible optional repayment facilities, high LTVs, personalised rates and up to four per cent cashback.”

The lender added that it would plant a tree for each of the first 50 completions in partnership with the Yorkshire Dales Millennium Trust.

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