Pure Retirement equity release review 2024
*Updated December 2024*
Latest Pure Retirement lifetime mortgage interest rates
Rates correct at 3rd December 2024. 5.72% MER deal through Age Partnership when you use our equity release calculator.
Who is Pure Retirement?
Pure Retirement is a Leeds-based mortgage lender formed in 2014, currently looking after more than £2 billion of lifetime mortgage loans for its customers.
The company has gained over 25 industry awards and a gold accreditation in Investors in People. Most recently it has been named Best provider for service 2023 at the Equity Release Awards 2023 as well as Best Provider for Products at the 2022 Equity Release Awards and Winner of the Later Life Lending Innovation category at the Mortgage Financial Gazette Awards 2022.
Pure Retirement only accepts applications from fully qualified equity release advisers, including our chosen partner Age Partnership.
Is Pure Retirement a member of the Equity Release Council?
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Yes, Pure Retirement is a member of the Equity Release Council. This ensures that all its lifetime mortgages offer you the peace of mind of a ‘no negative equity’ guarantee, plus the freedom to transfer your lifetime mortgage to another property as long as it meets the company’s criteria.
The company is also regulated by the Financial Conduct Authority (FCA).
Pure Retirement Equity Release in summary
Pure Retirement currently offers two lifetime mortgage ranges:
- Pure Sovereign Lifetime Mortgages
This is Pure Retirement’s standard range of lifetime mortgages. It offers several options for reducing the fees payable, such as a free valuation and contributions to arrangement and legal fees.
- Pure Max Lifetime Mortgages
This range of Pure Retirement lifetime mortgages offers higher loans-to-value than the standard Sovereign range.
All Pure Retirement lifetime mortgages offer:
- Fixed interest rates for the lifetime of the loan
- A free initial valuation on properties worth up to £2 million
- The option to set up a cash drawdown facility – you don't pay any interest on the money in this facility until you use it
- The option to make partial or regular payments to reduce the impact of interest accruing
- Cashback of up to 4% on loans of £20,000 or over
- Wide-ranging property criteria: they will consider timber frames, flat roofs, self-builds, flying freeholds, Grade 2 listed buildings and ex-council houses that meet their criteria
A note from our expert, Ashley:
This Pure Retirement review is one of a series of equity release reviews setting out the services of some of the UK's leading equity release providers to help you make a more informed choice.
Eligibility criteria
Your eligibility for a Pure Retirement lifetime mortgage will ultimately depend on which options you choose. As a minimum, you will need to:
- Be aged 55 or over
- Own a property in the UK that is your main home and worth over £70,000
- Require a loan of at least £10,000
- Be mortgage free or only have a small amount left to pay. Any remaining mortgage must be fully paid off from the money you release
Next steps
Compare equity release providers or try our free, no-obligation equity release calculator to see how much cash you could unlock from your home.
For free, expert advice call 0800 133 7380 to speak to an adviser at Age Partnership, the award-winning retirement specialists, who can talk you through Pure Retirement lifetime mortgages as well as many other leading providers.
Be sure to seek professional financial advice and speak to your family before deciding whether equity release is the right option for you. It’s important to understand the implications of a lifetime mortgage and consider the alternatives to equity release first.
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