It reintroduces its Emerald range
Equity release lender Pure Retirement has returned to full lifetime mortgage range availability, following the reintroduction of its whole-of-market Emerald range, accepting applications from consumers aged 55 to 85.
The lender said applicants could access maximum loan-to-values (LTVs) of up to 46.1%, depending on their age.
Brendan Gilligan (pictured), head of products at Pure Retirement, commented: “It’s gratifying to see the market opening up, following the widespread effects of last autumn’s mini budget. We’re proud to not only have restored full range availability to advisers and their clients through the reintroduction of Emerald, but also enhanced our other ranges to continue offering a wide range of attractive later life lending solutions to suit a variety of circumstances.”
The reintroduced product, which will be lumpsum only, offers a 21-day post-KFI rate guarantee, allowing applicants to assess their options without having to worry about any potential rate increases. Customers will also continue to benefit from the ability to repay up to 12% annually without incurring any early repayment charges.
The latest move follows the recent reintroduction of the lender’s Heritage range, which re-entered the market last month as a specialist high-LTV product for the over-80s. The lender has also reduced rates on its Classic and Sovereign ranges, with the lowest rate available now sitting at 5.5%.
Gilligan added: “These latest changes are only the beginning of a focus on product development over the course of the year, underlining our commitment to providing a market-leading lifetime mortgage offering.”
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