Pure Retirement Boosts Loan Options for Homeowners

Pure Retirement, a key player in the lifetime mortgage market, has announced significant enhancements to its Classic lifetime mortgage products. In a move aimed at increasing accessibility for homeowners seeking to leverage the equity in their homes, the company has raised the loan-to-value (LTV) ratios up to 48% on its standard range. This strategic adjustment underscores the product’s flexibility and broadens the pool of eligible borrowers.

What Does This Mean for Borrowers?

Loan-to-value ratio is a critical factor in mortgage products, indicating the maximum percentage of a home’s value that can be borrowed. With Pure Retirement’s recent update, more homeowners can now access larger amounts of equity from their properties. Specifically, the changes are structured as follows:

  • For applicants aged 70: The available LTV has been increased to 38%.
  • For applicants aged 80 and above: Borrowers can now access LTVs as high as 48%.

This enhancement is applicable to both new initial advances and further advances, providing existing and new customers with improved financial options.

Additional Perks for Classic Customers

Alongside the LTV increases, Pure Retirement has introduced a package of benefits designed to make their lifetime mortgages more attractive and cost-effective:

  • No upfront fees: Borrowers will not be charged any arrangement fees, and valuation fees are waived, reducing the initial costs of obtaining a mortgage.
  • Further advances up to age 90: Existing customers can apply for additional borrowing until the age of 90, as long as the completion occurs before the borrower reaches 89 years and 364 days. This is an important update for older borrowers needing more financial flexibility.

Chris Buchanan, head of product at Pure Retirement, emphasised the impact of these changes: “Our Classic product has consistently been a leading lifetime mortgage solution, and the increased LTVs available, up to 48%, will open up the Classic product to more people and provide them greater choice and value following our recent decision to remove the arrangement fee across the range.”


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