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Pure Retirement offers the most popular type of equity release, a lifetime mortgage. All Pure Retirement lifetime mortgages meet the Equity Release Council standards, which afford you their protections. Pure Retirement offers several different plans, with low interest rates and high maximum releases.

Let's review:

Pure Retirement equity release interest rates

Pure Retirement offers variable live pricing on most of their products, meaning that they they offer the best interest rate that they can for the specific amount of money that you need.

We typically find the Pure Retirement offer some of the most competative equity release interest rates in the market. However, there are often times that other lenders provide more money at lower interest rates.

The interest rate available with Pure Retirement is based on:

  • Your age(s)
  • Your property address
  • Your property type
  • Your property value
  • The amount of money that you need
  • How much money you want in reserve (if any)

Below is a snapshot of interest rates that were available on 04 July 2024.

Pure Retirement

Interest rates from 5.55% MER *

Other providers

Interest rates from 5.51% MER *

Range Product Monthly equivalent rate (MER) Loan Amount (Maximum available at this rate)
ClassicStandard O5.55%Show Me
ClassicStandard N5.60%Show Me
ClassicStandard M5.64%Show Me
ClassicStandard L5.71%Show Me
ClassicStandard K5.73%Show Me
ClassicStandard J5.85%Show Me
ClassicStandard I5.92%Show Me
ClassicStandard H6.00%Show Me
ClassicStandard G6.06%Show Me
ClassicStandard F6.09%Show Me
ClassicStandard E6.15%Show Me
ClassicStandard D6.17%Show Me
ClassicStandard C6.29%Show Me
HeritageSuper6.34%Show Me
HeritageSuper Max6.39%Show Me
ClassicStandard B6.43%Show Me
HeritageSuper Max Plus6.54%Show Me
ClassicStandard A6.70%Show Me
HeritageSpecial 16.94%Show Me
ClassicStandard6.94%Show Me
HeritageSupreme7.28%Show Me
HeritageSpecial 27.37%Show Me
HeritageSpecial 2.57.40%Show Me
HeritageSpecial 38.10%Show Me

* Pure Retirement and other lenders offer variable live pricing. Please request your personalised illustration for your best rate.

Please complete the equity release calculator below to find out your personalised interest rate. One of our experienced equity release advisors will request your personalised interest rate and compare it to other equity release plans from across the market.

Pure Retirement equity release calculator

We will request your personalised interest rate from Pure Retirement and compare it to that if other lenders.


Property value:
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You can search for a specific amount of money you want to release or leave it blank to see the maximum release available.

I suggest initially borrowing money you plan to spend in the next year or two, with the reserve to access in years three to ten.

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We will contact you with your results.


Pure Retirement equity release plans

Pure Retirement offer the most popular type of equity release plan, the lifetime mortgage. Their lifetime mortgages are split into several different products to meet differing needs.

Let's explore some criteria and features in greater detail:

Sovereign
lifetime mortgage
  • Can apply if aged 55-85
  • Minimum property value £70,000
  • Minimum loan £10,000
  • Add a cash reserve to access money later
  • Optional payments of up to 10% each year
  • Free valuation on initial advance for properties below £2,000,000
  • Personalised rate based on loan amount, age, property value, property type and location
  • Significant life event waiver
Classic
lifetime mortgage
  • Can apply if aged 55-84
  • Minimum property value £125,000
  • Minimum loan £10,000
  • Add a cash reserve to access money later
  • Optional payments of up to 10% each year
  • Free valuation on initial advance
  • Personalised rate based on loan amount, age, property value, property type and location
  • Downsizing protection
  • Significant life event waiver
Heritage
lifetime mortgage
  • Can apply if aged 55-85
  • Minimum property value £70,000
  • Loans of £10,000 to £800,000
  • Add a cash reserve to access money later
  • Optional payments of up to 10% each year
  • Free valuation on initial advance
  • Significant life event waiver
Emerald
lifetime mortgage
  • Can apply if aged 55-90
  • Minimum property value £70,000
  • Loans of £10,000 to £1,500,000
  • Add a cash reserve to access money later
  • Optional payments of up to 12% each year
  • Free valuation on initial advance
  • Personalised rate based on loan amount, age, property value, property type and location
  • Downsizing protection
  • Significant life event waiver
Heritage Freedom
lifetime mortgage
  • Can apply if aged 55-85
  • Minimum property value £70,000
  • Loans of £10,000 to £800,000
  • Add a cash reserve to access money later
  • Optional payments of up to 20% or 40% each year
  • Free valuation on initial advance
  • Significant life event waiver

Useful features offered by Pure Retirement

Downsizing protection: With Pure Retirement lifetime mortgages, if the loan is repaid after five years because you move home and you cannot port your lifetime mortgage because your new home does not meet lending criteria, an Early Repayment Charge (ERC) is not applied.

Significant life event waiver: For joint applications, if you repay the lifetime mortgage following the first borrower passing away or moving into long-term care, an Early Repayment Charge (ERC) is not applied.

Partial repayments: You can repay up to 10% of the loan amount each year without penalty on all Pure Retirement lifetime mortgages. However, Emarald allows you to repay up to 12% and Heritage Freedom up to 20% or 40% each year - the highest penalty free repayments in the market!

Your annual allowance is renewed on the anniversary of the date the borrowing completes. Any unused balance does not roll over into the following year.

Pure Retirement also offer the option for you to service interest by Direct Debit on their Sovereign, Classic and Emarald plans.

Pure Retirement's equity release underwriting

Flexible underwriting: Pure Retirement offers a wide range of lifetime mortgage products. Whether you live near a commercial property or your property is built of non-standard construction, Pure Retirement usually has lifetime mortgage options available to you.

Large estates: Pure Retirement is happy to lend consider large plots and high value properties on an individual basis.

Married couples single applications: Pure Retirement is one of only four equity release lenders who allow sole applications from married couples on their Sovereign lifetime mortgages. If you are married and own your home solely, Pure Retirement is considered.

We can discuss applying solely and jointly to ensure your needs are best met. Please speak with one of our equity release advisors for more information.

Benefits of Pure Retirement equity release

Free valuations: All Pure Retirement equity release plans offer free valuations on initial borrowing.

Sovereign, has a £2,000,000 cap on free valuations, whereas all other plans offer free valuations regardless of your property value.

I love this feature because it takes all the risk away from you. If there are any unforeseen issues with the survey, you will not have to pay anything upfront, and you will not be liable for paying a penny should you decide not to proceed.

Wide selection of lifetime mortgages: With five core lifetime mortgage plans available, there are lots of options with Pure Retirement.

With such a strong suite of plans and features, it's no surprise that Pure Retirement is one of the largest specialist equity release lenders in the market.

This can provide you with great peace of mind when taking a plan that could last the rest of your life!

Largest ERC free voluntary payments: Pure Retirement's Heritage Freedom 40 allows you to repay up to 40% of your loan each year without incurring a penalty; the largest in the equity release market!

Maximising this feature allows you to repay your loan in full within 3 years without incurring an Early Repayment Charge!

Where the plans aren't so good

Pure Retirement's equity release plans are feature-rich but may cost more than alternatives from other lenders.

As part of our equity release advice service, we will consider plans from Pure Retirement and compare them to other equity release lenders.

Please speak with one of our equity release advisors for your personalised illustration.

How does Pure Retirement compare to other equity release lenders?

Pure Retirement is one of the most popular equity release lenders. Benefits of their plans include:

  • Downsizing protection
  • Significant life event waiver
  • Reserve facilities, and
  • options to pay by Direct Debit.

However, you may be able to achieve larger loans and lower interest rates from other equity release lenders. Furthermore, Pure Retirement does not offer medically underwritten lifetime mortgages.

When you are ready, you can book an appointment with one of our equity release advisors, who can show you how Pure Retirement compares to other lenders for your specific needs.

Borrowing more on an existing Pure Retirement equity release plan

If you have an existing equity release plan with Pure Retirement, we can help you assess the best way to borrow additional funds.

Where you have a reserve facility in place (from a drawdown plan), you can contact Pure Retirement directly on 0113 366 0599 to request additional funds.

However, I always suggest that you compare additional borrowing with Pure Retirement to the cost of moving to a different lender.

We will require your authority to discuss your existing plan with Pure Retirement. Please complete the form below so that we can send you a Letter of Authority to complete, sign, and return so that we may speak with Pure Retirement.

Letter of Authority

Complete the form below to create a Letter of Authority for you to sign so we can speak with Pure Retirement regarding your existing equity release plan.

Your Address

Address Line 1
Address Line 2
Address Line 3
Town
County
Postcode

First Borrower

First name
Middle name(s)
Surname
Date of Birth

Second Borrower (optional)

First name
Middle name(s)
Surname
Date of Birth

Pure Retirement Mortgage

Mortgage reference

Why don't I just go to Pure Retirement directly?

Of course, you can go to Pure Retirement directly to request their lifetime mortgages. However, you still require financial advice before taking one of their plans, and they do not currently have any directly employed advisors. Instead Pure Retirement will put you in touch with a financial advisor who will only advise on Pure Retirement equity release plans.

If you choose to work with an advisor who works with other lenders, you could be able to access a more suitable lifetime mortgage from another provider.

But won't I get a better deal by going direct?

The interest rates charged, and the amounts of money you can release will be the same regardless of if you go direct, or through another advice firm.

In closing

I hope that I have provided you with an understanding of Pure Retirement's equity release product offering. And hopefully, you have an idea whether you could be an Pure Retirement equity release client. If you have further questions surrounding Pure Retirement's equity release plans or would like to see if Pure Retirement is the plan I would recommend for you, contact us on 0207 158 0881.

Remember we compare plans from other equity release lenders too, so we can save you time shopping around, and find the most suitable plans for you. You can also use our equity release calculator to compare the lowest rate plans.

If you have further questions, why not speak with one of our qualified advisors?

Call us on 0207 158 0881 or use our online form to book your FREE consultation.

While a qualified equity release advisor has written this guide, it is not intended to be used as financial nor legal advice and should not be relied upon.

To understand the full features and risks of an Equity Release plan, ask for a personalised illustration.

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