TMA Club has announced the addition of lifetime mortgage lender, Pure Retirement, to its later life lending panel.

Pure Retirement is the eighth later life lender to join TMA and club members will have immediate access to a variety of Pure Retirement’s products for clients aged 55 and over, including the lender’s Sovereign, Heritage and Heritage Freedom 40 plans.

All four plans offer loans from the starting value of £10,000, with additional benefits for clients including fixed early repayment charges (ERCs) and the option to access plans via a drawdown facility. The Sovereign, Heritage and Heritage Freedom 40 plans also come with no maximum property value.

TMA brokers will also benefit from Pure Retirement’s adviser toolkit, where they can access a number of extra support services. These include Pure Retirement’s marketing service, which allows advisers to create bespoke materials using their own branding, as well as the lender’s case tracking facility.

Clients of TMA advisers will also benefit from the following on select Pure products:

• The option to add downsizing protection
• The option to take free valuations
• Availability of mortgage porting for those who wish to move home during their policy
• The option to access their loan as a lump sum
• No age limits
• Gilt-based ERCs, in addition to fixed ERCs

Lisa Martin, development director at TMA, said: “At TMA, we recognise the vital role that intermediaries play in the industry. We are committed to providing the highest level of support to our advisers, which is why we are delighted to announce the addition of Pure Retirement to our lifetime mortgage panel.

“As a result of today’s partnership, TMA advisers will be able to offer older customers a greater range of lending solutions to cater for their needs, and further help this demographic make the most of the equity tied up in their homes. We are confident that, with the added support of Pure Retirement’s adviser toolkit, firms will be better equipped to serve their older clients going forwards.”

Chris Flowers, head of intermediary sales at Pure Retirement, added: “At Pure Retirement, we understand that equity release is a decision that requires a great deal of thought and care, so the help of an adviser in this market is invaluable. To this end, we are committed to ensuring a smooth and straightforward process for brokers, so they are able to advise on this area with confidence.

“We look forward to providing TMA’s adviser community with a variety of flexible solutions to help their older clients, and supporting the Club in its plans to grow its presence in the later life lending space.”