Pure Retirement says more than 11,000 customers are now registered on its online account management platform, MyPure.

The lifetime mortgage lender said use of the platform had increased over the past year, with a 28% rise in ad hoc optional repayments and a 27% rise in cash release applications lodged directly through MyPure.

The platform allows customers to manage parts of their lifetime mortgage online, alongside continued access to Pure Retirement’s office-based customer account servicing team.

Customers can use MyPure to apply for cash releases, make ad hoc optional repayments, set up direct debits and standing orders, view balances and transactions, download documents such as annual statements, and receive notifications when new documents are available.

Pure Retirement said the platform supports its work around Consumer Duty outcomes, particularly customer support and the use of self-service tools to help customers manage their accounts.

Simon Hayton, managing director at Pure Retirement, said: “We’re pleased to see customers not only registering for MyPure, but also making use of its features to effectively self-manage aspects of their account.

“The increase in activity levels underlines the inherent value in this service offering, and we’re proud to continue to be the only lender in the space offering this option to consumers.

“Giving customers options to manage their accounts whether via the phone or online ensures customer experiences remain a bedrock of the later life lending space as it seeks to become a mainstream financial solution for over-55s, and we’re pleased to be able to provide the sort of tools that people have come to expect from household name financial providers.”