This milestone follows the lender reaching a loan book size of £1bn in 2019, £2bn in 2020 and £3bn last year.
Alongside this, the company has increased its headcount by 27 per cent to 212 employees since last year and now has a 14 per cent market share. These have included the appointment of a new chief financial officer and chief technical officer.
Pure Retirement has been investing in its staff training and development, which has included the establishment of an in-house academy for its operations and customer account servicing employees. They have the responsibility of ensuring the best outcomes for advisers and clients.
Pure Retirements profits up 21 percent
For the year to 31 December 2021, Pure Retirement posted profits of £13m, up from £10.7m the year before.
Paul Carter (pictured), CEO of Pure Retirement, said the growth of the business highlighted the lender’s “commitment to innovation and service”.
He added: “The recent integration of several third-party loan books has proven that we’re increasingly seen as the loan servicer of choice among the ever-growing growing equity release market, and we will continue to provide gold-standard service to all of our stakeholders going forward.
“Of course, this can’t happen without investment in people and, as we’ve grown our headcount, we’ve also developed our training and development provision. It’s important for us to ensure that our teams not only have the knowledge and capability to provide best outcomes, but also the support to help them tackle the mental health challenges that can be caused by the current changing landscape.”
Last week, Mortgage Solutions reported that Pure Retirement had seen a significant increase in equity release business from owners of properties worth more than £1m.
