This includes the reintroduction of its Super Max Plus and Supreme products which are available up to 43 per cent and 46 per cent LTV respectively. This is open to borrowers from age 55 and over. Pure Retirement has lowered the minimum age across its Heritage 1 and 2 products to 60, and the Heritage Special 2 products will now allow joint life applications.
The maximum LTV available on the Heritage Special 3 product is 50 per cent.
The Heritage range offers features such as fixed early repayment charges (ERCs).
The Heritage Freedom mortgages are now available to borrowers up to the age of 85 and gives them the option of repaying up to 20 per cent or 40 per cent of their loan each year with no ERCs.
Minimum property values start at £70,000 with no maximum property value. Loans are available from £10,000 up to £800,000 and can be taken as either lump sum or with a drawdown facility.
Chris Buchanan (pictured), head of product at Pure Retirement, said: “It’s great to be able to continue our commitment to product development right through to the end of the year. These latest changes further expand our offering, thanks to higher LTVs and allowing more customers to benefit from Heritage, with reduced minimum ages and increased maximum ages.
“We hope that these latest developments will give advisers additional confidence and contribute to a stronger market in 2024.”
At the end of November, Mortgage Solutions reported that Pure Retirement has passed £5bn of loans services after the integration of its back book.
