Pure Retirement expands lifetime mortgage distribution

Advisers are now able to access the products through Advise Wise, AiR and Premier Equity Release Club.

Available to clients aged 55-84, the Classic range allows borrowers to make 12 optional ERC-free repayments per year, provided they don’t exceed 10% of the initial amount borrowed in a 12 month period.

Borrowers also benefit from no upfront costs with free valuations and the option of no arrangement fee.

With an uncapped drawdown facility (subject to maximum LTV), customers can access funds to meet their needs, and downsizing protection is provided should they move to a smaller property in the future.

Early repayment charges are fixed and for joint plans there’s a three-year window after the first applicant enters long term care or passes away in which the remaining party can repay the debt in full without incurring any early repayment charge.

Head of intermediary sales, Chris Flowers, said: “The market has recently seen increased levels of activity, with consumer interest gradually returning as the world enters its new norm.

"With a predicted sharp rise in activity for the latter half of the year it’s more important than ever to be able to offer market-leading products, and widening the distribution of our Classic range underlines our commitment to that.

"It comes off the back of the launch of our Freedom 40 range earlier this year, further highlighting our dedication to continued development and innovation even in the most trying of circumstances.”