Pure Equity Release Review (2025): Your Complete Guide!

- Pure equity release is a financial product allowing homeowners aged 55 or over to secure a loan secured against the home that is repaid, with interest, when the homeowner dies or moves into long-term care.
- While it offers instant capital with no monthly dues, beware of growing debt, a dip in inheritance value, and the roll-up interest, which may inflate debt and affect inheritance plans.
- Eligibility hinges on being over 55, owning your well-maintained property in the UK, and meeting lender standards.
Imagine working hand-in-hand with equity release specialists to obtain the best equity release plan just for you!
That is what Pure aims to do by acting in an honest and transparent way at all times.
With several equity release awards in 2022, and 2023, and before under its belt, could Pure’s equity release plans be just what you have been looking for?
In This Article, You Will Discover:
Our dedicated team has combed through the market to identify some of the top equity release providers just for you.
Therefore:
NOTE: EveryInvestor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of EveryInvestor only and may not reflect the views or opinions of Pure. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Pure.
Who Is Pure Retirement and What Do They Offer?
Pure is a Leeds-based entity that offers retirement mortgages and home finance solutions.
As a multi-award-winning lender, Pure is one of the leading providers of equity release.
It is committed to acting in the best interest of its customers, as well as ensuring excellent customer service.
Pure is a member of the Equity Release Council1, and is authorised and regulated in the UK by the Financial Conduct Authority (FCA)2.
What Is Pure Retirement Equity Release?
Homeowner equity release provides a means for seniors to utilise the equity in their homes for financial gain, bypassing the need to sell.
It’s a method for transforming home equity into liquid assets.
This financial model is characterised by its repayment schedule.
The borrowed amount, plus interest, is repaid at the home’s eventual sale, commonly after the homeowner’s death or move to a care facility.
Learn More: Equity Release and Moving into a Care Facility
Why Consider Pure for Your Equity Release?
You should consider Pure because:
- It has been a winner at the Equity Release Awards3 for three consecutive years.
- It specialises in equity release.
- It has a proven track record of excellence and great customer service.
- It believes in acting in a transparent and honest manner.
What Equity Release Services Does Pure Retirement Offer?
Pure offers services relating to mortgages and home finance.
Pure Retirement Equity Release Schemes & Lifetime Mortgage Options
Pure Retirement offers diverse equity release schemes, featuring flexible withdrawal options and inheritance protection.
Does Pure Retirement Offer Lifetime Mortgages or Other Equity Release Options?
Pure Retirement offers lifetime mortgages but not home reversion plans.
What Are the Different Equity Release Schemes Offered by Pure Retirement?
Pure Retirement’s equity release schemes are in the form of lifetime mortgages.
The lifetime mortgage plans are:
- Emerald
- Classic
- Sovereign
- Heritage
- Heritage Freedom
What Features Do Pure’s Equity Release Schemes Offer?
Pure’s schemes boast unique features, including voluntary repayment options and fixed interest rates.
Emerald
- Maximum LTVs4 29.50 – 57.50%*.
- Property Value: £120,000 – £2mln.
Classic
- Maximum LTVs 27 – 54%*.
- Property Value: £125,000 – £2mln for standard range
- No maximum property value for Elite products
Sovereign
- Maximum LTVs 23.00% to 52.00%*.
- Property Value: £70k – No maximum.
Heritage
- Maximum LTVs from 24.70% to 57.00%*.
- Property Value: £70k – No maximum.
Heritage Freedom
- Maximum LTVs from 24.70% to 53.50%*.
- Property Value: £70k – No maximum.
*While we regularly review our rates, these may have changed since our last update.
Interest Rates, Fees, and Tools for Pure Retirement Equity Release
Pure’s equity release interest rates vary, with transparent fees and an accessible online calculator for customers.
Pure Retirement Interest Rates: How Do They Compare in the Equity Release Market?
Pure Retirement interest rates depend on the rate at the time you take the plan.
Pure Retirement’s interest rates for equity release are competitive within the UK market.
They often align closely with standard rates offered by other top equity release providers, although precise rates depend on the specific plan and individual circumstances, such as age and property value.
Pure Retirement’s rates are generally fixed, offering predictability in costs over the years, a feature many find reassuring.
Annual fixed interest rates start from 5.65% to 5.85% AER*.
Remember that lifetime mortgages have a higher interest rate than a standard mortgage.
This is because the interest rate is usually fixed for life, safeguarding you from any fluctuations.
What Fees Are Associated With Pure Equity Release?
Pure’s fees include a valuation fee, arrangement fee, your solicitor’s fee, as well as advice fees.
Pure may also contribute to some of the costs of setting up your equity release.
It is advisable to contact a Pure advisor to obtain the most accurate estimation for your needs.
Is There a Pure Retirement Equity Release Calculator Available?
Yes, Pure does have an equity release calculator.
If you are looking for a comparison, why not try our easy-to-use calculator below to obtain an approximation of how much you could release from your home?
Pros and Cons of Pure Retirement Equity Release: Customer Reviews and Insights
Choosing Pure for equity release presents distinct advantages and drawbacks, as reflected in varied customer reviews.
What Are the Pros and Cons of Choosing Pure for Equity Release?
The advantages of Pure include being authorised and regulated in the UK by the Financial Conduct Authority (FCA), however, a disadvantage is that it only offers a limited product range.
Pure Retirement Pros
- Proven track record and awards for excellence.
- Specialises in equity release.
- Member of the Equity Release Council and authorised and regulated in the UK by the Financial Conduct Authority (FCA).
- Fixed interest for life.
- Flexibility to move house, depending on lending criteria.
Pure Retirement Cons
- Reduced estate and assets if you opt for equity release.
- Minimum qualifying age of 60.
- Limited products to choose from.
- Not forthcoming with information on its website.
How We Conducted the Pure Retirement Equity Release Review
In reviewing Pure’s information, we researched its history, its product offering, and its fees to provide you with this guide.
The information we found on Pure is positive.
We believe it is an excellent choice if you want to deal with an experienced team.
This is especially true if you are looking for specialists in later-life mortgages and finance.
NOTE: This article is an unaffiliated, independent, third-party, review of Pure Retirement.
Independent Pure Retirement Reviews: What Customers Are Saying
Pure Retirement reviews have been largely complimentary online.
The company has a 4.5 out of 5 rating on Trustpilot (from 300 reviews).5
Many customers praise the company for its excellent service, fast processing, and helpful staff.
However, there are also some negative reviews, with customers mentioning issues related to high interest rates and difficulties in selling properties.
Its customer service has been described as excellent, and its team comes highly recommended.
Martin Lewis on Equity Release: Insights and Advice for Choosing Pure Retirement
While Martin Lewis has not reviewed Pure Retirement, MoneySavingExpert.com does provide some general thoughts on equity release.
These insights include:
- Consider Downsizing First: Martin Lewis often suggests exploring downsizing as an alternative to equity release. This involves selling your current home and moving to a smaller, less expensive property, which can free up cash without the long-term costs associated with equity release.
- Borrow Only What You Need: It’s important to borrow only the amount you need, as equity release can be an expensive way to raise cash owing to the effect of compound interest.
- Professional Advice: Always seek professional advice from an independent financial advisor who specialises in equity release. They can help you find the best deal and navigate the complexities of the process.
- Equity Release Council Membership: Ensure the provider is a member of the Equity Release Council, which guarantees that your estate will never owe more than your home is worth.
- Impact on Benefits: Be aware that releasing equity from your home can affect your eligibility for certain benefits, such as pension credit.
- No Negative Equity Guarantee: Martin Lewis emphasises the importance of the No Negative Equity guarantee, which ensures that you will never owe more than the value of your home.
Pure Retirement: Regulatory Information, Support, and Contact Details
Pure Retirement provides comprehensive support and contact options, adhering to strict regulatory standards.
How Does Pure Retirement Address Equity Release Complaints on Trustpilot & Beyond?
Should you have a complaint about Pure, you can raise your concerns by telephone, by email, or by completing an online feedback form.
Alternatively, you can voice your concerns on any of the popular review sites, such as Trustpilot or Feefo6.
Support and Resources for Advisers: What Does Pure Retirement Offer?
Pure Retirement is dedicated to supporting financial advisers with comprehensive resources tailored to enhance their advisory services.
If you’re an adviser, you’ll find access to an array of tools, including the equity release calculator, detailed product guides, and marketing materials, designed to assist you in providing informed advice to your clients.
Additionally, Pure Retirement offers regular training sessions and updates on the latest market developments and regulatory changes, ensuring you’re always equipped with the knowledge to best serve your clients’ needs.
What Are the FCA Regulatory Details for Pure Retirement?
Pure Retirement is regulated by the FCA, ensuring compliance with stringent financial conduct guidelines.
FCA Address
2200, Century Way, Thorpe Park, Leeds, West Yorkshire, LS15 8ZB, UK.
Trading Names
Pure Retirement Limited
FCA Permitted Services
Mortgages and home finance
Regulators
- Financial Conduct Authority (FCA)7
Registration Numbers
- FCA Ref Number: 582621
- Companies House Number: 07240896
FCA and Companies House Link
- FCA Link: FCA Link
- Companies House Link: Companies House Link
How Can You Contact Pure Retirement for Equity Release Inquiries?
Pure’s contact number is 0113 366 0599.
Are There Career Opportunities Available at Pure Retirement?
Exploring a career with Pure Retirement opens doors to a dynamic and supportive environment where growth and development are encouraged.
Whether you’re interested in customer service, financial advisory, or operational roles, Pure Retirement is keen on attracting talent passionate about making a difference in the equity release sector.
The company prides itself on fostering a culture of learning and innovation, offering various opportunities for professional development and advancement within the organisation.
Common Questions on Pure Retirement Reviews
How Does Pure Retirement Equity Release Work and Who Is Eligible?
What Are the Advantages and Disadvantages of Pure Equity Release?
How Safe Is Pure Retirement Equity Release for Funding Your Retirement?
What Are the Qualification Criteria for Pure Retirement Equity Release?
How Does Choosing Pure Equity Release Affect Your Inheritance?
Pure Retirement & the Equity Release Council: Does It Have Certified Member Status?
Does Pure Offer Equity Release?
Is Pure Equity Release Safe?
Who Is Pure Equity Release?
Concluding Overview of the Pure Retirement Lifetime Mortgage
Pure specialises in equity release, making it an excellent choice if you are looking to unlock capital from your home.
It has won many awards for its excellent customer service.
It is a people-based company that is committed to operating in a manner that meets customer needs.
So if you are considering Pure for equity release get in touch with an experienced adviser to help you with the next steps.
The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.
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