Pure Retirement aim to create their own niche in the field of lifetime mortgages by targeting the maximum loan end of the equity release market.
Fully regulated by the Financial Conduct Authority and members of the Equity Release Council, Pure Retirement follow the code of conduct laid down in keeping consumers fully protected.
Pure Retirement aim to secure any applicants over the age of 55 with a greater lump sum than most equity release schemes in the sector. In addition they want the consumer to find the cheapest route to market by assisting with set up fees. This depends on the size of the release, but their basic offering is a free valuation & £600 towards legal fees.
The Pure Classic Drawdown Super Lite Plan will accept application from properties in England, mainland Scotland & Wales with a minimum property valuation of just £100,000 upto a maximum property value of £2 million.
The minimum age on the Pure Drawdown Super Lite plan is 55.
Pure Retirement's minimum release is just £10,000 and with it being a drawdown lifetime mortgage scheme, if the maximum is not taken from day 1, then a cash reserve facility is created. From this reserve you can take further withdrawals in minimum amounts of £2,000 at anytime in the future, with no additional charges.
The maximum release available of the Pure Retirement Classic Super Lite Drawdown plan is £1 million.
The strength of Pure Retirement lies in their low set up costs on this Drawdown Plan. For anyone over the age of 55, looking for a low drawdown interest rate, and from limited set up costs are incurred, the Pure Classic Super Lite is an excellent option.
The Pure Retirement Drawdown plan helps with set up fees by offering options; a FREE valuation and with or without an a lenders arrangement fee.
With the Pure Drawdown plan being an equity release drawdown scheme means flexibility can be achieved with regular cash releases. The minimum future drawdown amount is £2,000 at any time and has no further charges per withdrawal.
In summary, the Pure Drawdown Classic Super Lite plan provides flexibility via drawdown, yet potentially one of the lowest equity release interest rates in the equity release market.
**The 3-year early repayment charge exemption applies to joint life applications should the loan be repaid within 3 years of death, or long term care of the partner
Please call 0800 678 5169 for further details or request a Pure Retirement Classic Drawdown Super Lite Lifetime Mortgage Key Facts Illustration.