Pure Retirement launches Heritage range of products

Published on

Pure Retirement has unveiled its new product suite, the Heritage range, which has whole-of-market availability and offers repayment flexibility.

Heritage offers ERC-free partial repayments across all of its products, allowing up to six payments per 12 months and allowing up to 10% of the advance to be paid over the same period.

In addition, Heritage follows last year’s Sovereign range in offering ERC-free full repayment of joint plans within three years of one borrower passing away or entering into long-term care.

Open to those aged 60 and above, the Heritage range accepts properties valued at £70,000 and above (or £100,000 and above if ex-council or ex-MOD) with no maximum value cap. Minimum initial release is set at £10,000 with total cash facilities available up to £600,000 for those living in England and £250,000 for those in Scotland and Wales.

Brendan Gilligan, Pure Retirement’s head of product delivery, said: “We are seeing more demand in the market for plans that provide customers with the option to make voluntary payments, allowing them to service interest and protect equity in their home.

“Adding these new customer friendly features to our already wide product range provides brokers with more options to help them meet the needs of their customers, and we’re confident that the Heritage range acts as a great companion to last year’s Sovereign range in offering customers’ flexibility in their retirement.”

Paul Carter (pictured), Pure’s CEO, added: “As a lender it’s important that we continue delivering products that allow people seeking equity release solutions to enjoy their retirement in whatever way they see fit. In Heritage I’ve little doubt that we’ve created something that fulfils that brief, with a range of options and flexibilities which should enable our customers to manage their plans should their circumstances change over its duration.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Targeted support must not sideline customer vulnerability, MorganAsh warns

Firms preparing to offer the FCA’s new targeted support service risk falling foul of...

Less Autumn Budget and more Autumn Bodgit

After months of fevered speculation before the Budget residential property transactions juddered to a...

Bridging brokers cite government policy as main risk to mortgage market

Research among bridging professionals suggests political uncertainty outweighs concerns over rates, affordability and housing...

BDLA backs FCA review of regulated bridging loan term limits

The Bridging and Development Lenders Association (BDLA) has welcomed a move by the Financial...

The Vernon boosts affordability support with JBSP launch

Vernon Building Society has launched a new Joint Borrower Sole Proprietor mortgage range aimed...

Latest publication

Other news

Targeted support must not sideline customer vulnerability, MorganAsh warns

Firms preparing to offer the FCA’s new targeted support service risk falling foul of...

Less Autumn Budget and more Autumn Bodgit

After months of fevered speculation before the Budget residential property transactions juddered to a...

Bridging brokers cite government policy as main risk to mortgage market

Research among bridging professionals suggests political uncertainty outweighs concerns over rates, affordability and housing...