Pure Equity Release And Lifetime Mortgage Review in 2024

Are You Considering Pure Equity Release? Do You Want to Know About Its Fees and Interest Rates? Find Out if Pure’s Lifetime Mortgages Are for You Here…
  • Last Updated: 02 Feb 2024
  • Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.


Francis Hui

Key Takeaways

  • Pure equity release is a financial product allowing homeowners aged 55 or over to unlock the value in their property without selling it, by taking a loan secured against the home which is repaid, with interest, when the homeowner dies or moves into long-term care.
  • While it provides immediate access to capital and no mandatory monthly payments, the disadvantages include increasing debt over time due to compound interest and potentially reducing the value of your estate that can be left as inheritance.
  • While Pure equity release can provide additional funds during retirement, it's important to consider risks like roll-up interest leading to a larger-than-anticipated debt and potentially impacting your ability to leave an inheritance.
  • To qualify, you typically need to be over the age of 55, own your property outright or have a small outstanding mortgage, and your property must be in the United Kingdom and meet the lender's criteria.
  • The impact on your inheritance can be significant as the loan and accumulated interest are repaid from your estate when you die or move into long-term care, potentially leaving a smaller inheritance for your beneficiaries.

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 it's 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.


    NOTEEvery Investor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of Every Investor 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?

    Pure is a Leeds-based entity that offers 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 it's 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 Homeowner Equity Release?

    Homeowner equity release provides a means for seniors to utilize 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 characterized 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.

    Why Consider Pure?

    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 Services Does Pure Offer?

    Pure offers services relating to mortgages and home finance.

    Does Pure Offer Equity Release or Lifetime Mortgages?

    Yes, Pure does offer equity release.

    Pure’s Equity Release Schemes

    Pure’s equity release schemes are in the form of lifetime mortgages.

    The lifetime mortgage plans are:

    • Emerald
    • Classic
    • Sovereign
    • Heritage
    • Heritage Freedom

    Pure’s Equity Release Scheme Features


    • Maximum LTVs4 29.50 - 57.50%*.
    • Property Value: £120,000 - £2mln.


    • Maximum LTVs 27 - 54%*.
    • Property Value: £125,000 - £2mln for standard range
    • No maximum property value for Elite products


    • Maximum LTVs 23.00% to 52.00%*.
    • Property Value: £70k - No maximum.


    • 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.

    What Are Pure’s Equity Release Interest Rates?

    Pure’s equity release interest rates depend on the rate at the time you take the plan. 

    Annual fixed interest rates start from 5.20% to 6.30% AER*.

    However, the lifetime mortgages have a higher interest rate than a standard mortgage.

    This is because the interest rate is fixed for life, safeguarding you from any fluctuations.

    What Are Pure’s Fees?

    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 for setting up your equity release.

    It is advisable to contact a Pure advisor to obtain the most accurate estimation for your needs.

    Does Pure Have An Equity Release Calculator?

    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?

    What Are The Advantages and Disadvantages of Pure?

    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 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 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 it's website.

    How Did We Review the Information on Pure?

    In reviewing Pure's information, we researched it's history, it's product offering, and it's 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.

    Pure Customer Reviews

    Pure customer reviews have been largely complimentary online.

    It has a 4.4 out of 5 rating on Trustpilot5.

    It's customer service has been described as excellent, and it's team comes highly recommended.

    Pure Complaints

    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.

    Pure FCA Details

    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


    • Financial Conduct Authority (FCA)7

    Registration Numbers

    • FCA Ref Number: 582621
    • Companies House Number: 07240896

    FCA and Companies House Link

    Pure Contact Number

    Pure’s contact number is 0113 366 0599.

    What Is Pure Equity Release and How Does It Work?

    What Are the Advantages and Disadvantages of Pure Equity Release?

    Is Pure Equity Release a Safe Option for Retirement Funding?

    How Can I Qualify for Pure Equity Release?

    How Will Pure Equity Release Impact My Inheritance?

    Is Pure a Member of the Equity Release Council?

    Does Pure Offer Equity Release?

    Is Pure Equity Release Safe?

    In Conclusion

    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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