The company removed the range in November last year.
The customers can repay up to 20 or 40 per cent of their loan each year early repayment charge (ERC) free, depending on the product chosen.
The lender said that the range would meet the needs of lifetime mortgage customers who expect to get a larger cash payment, maybe from inheritance, a family member, investment or pension and want to use this to lower the cost of their mortgage.
The range allows up to 12 optional repayments per year, suiting customers who want to set up a regular monthly payment and lower the interest roll up.
The products are eligible to applicants from 50 to 80 years old and has a maximum loan to value (LTV) of 37 per cent, dependent on age.
The minimum property value is £70,000 and there is no maximum property value.
Loans are available from £10,000 up to £800,000, which can be taken as either lump sum or with a drawdown facility.
Pure Retirement: ‘Commitment to product innovation’
Chris Buchanan, Pure Retirement’s head of product, said: “Pure Retirement continues to lead the later life lending market through product innovation, new technology, and delivering great service.
“Our Freedom 20 and Freedom 40 products have been designed to give customers greater flexibility when it comes to making optional repayments, giving them the ability to repay more without an early repayment charge. We’re really excited to be reintroducing the range to the market and underlining our commitment to product innovation.”
