Explore later life borrowing
What is a lifetime mortgage?
A lifetime mortgage is a form of equity release secured against your property. Unlike a traditional mortgage, the loan is repaid when you pass away or enter long-term care; you don't have to make any repayments. However, all our lifetime mortgages allow you to repay part of the loan each year without paying early repayment charges.
All lifetime mortgage products are regulated by the Financial Conduct Authority and also abide by the standards set by the industry trade body, the Equity Release Council , ensuring that your interests are protected.
As lifetime mortgages are a regulated and advised product, we can only accept applications from a qualified independent financial adviser. If your next step is to speak to a financial adviser, find out more about how equity release works here >
To learn more about lifetime mortgages, including the potential risks associated with them, download our dedicated guide.
Online tools for existing customers
We're pleased to offer a market-first online account management platform, enabling our existing customers to easily self-manage aspects of their lifetime mortgage. You can find out more about MyPure and how to register as an existing customer or access your MyPure account through the login below.
Am I eligible for a lifetime mortgage?
In order to be able to apply for a lifetime mortgage, you'll need to fulfil some basic criteria requirements* – these are:
- Be at least 55 years old
- Own your home
- Be a UK resident
Please also note that if you have an outstanding mortgage on the property, this would need to be repaid with the funds you release with your lifetime mortgage.
Learn more about what equity release is here
* Please note, further eligibility criteria may apply.
How you can use it
Release funds for a range of needs
When you take out a lifetime mortgage, you can use the funds for a number of different reasons depending on your circumstances. Please note, some restrictions may apply on the reasons. Since we formed in 2013, our customers have been using the equity in their homes for a variety of purposes, including:
Make home improvements to kitchens, bathrooms and more
Clearing existing debts and outstanding mortgage balances
Gifting to family members to help with home purchases and other major life events
Supplementing retirement income and contingency funds
A luxury holiday or visiting family abroad
Buy a new car or the luxury one you've always dreamed of
With you step by step
Supporting you throughout your lifetime mortgage journey
If you apply for a Pure Retirement lifetime mortgage, rest assured you'll benefit from our award-winning support throughout your journey.
This includes:
Access to specialist teams focused on key life events such as making optional payments, redeeming the mortgage, downsizing or moving
A Customer Account Servicing team, dedicated to supporting all of our customers through exploring the features of their lifetime mortgage
The ability to register for our industry-first online account management platform, MyPure, enabling you to self-manage elements of your lifetime mortgage at your convenience
Learn more about how we support our customers.
Our reviews
Real world examples of lifetime mortgage successes
As part of our commitment to transparency, we're keen to share examples of how lifetime mortgages can be used, the experiences of our existing customers and how equity release has helped them to achieve their financial goals.
Read our Trustpilot and Google Reviews to learn more about our customer experiences and how they've found both the application process, and the support they've received after they've become a customer.
Our awards
We are proud winners of multiple industry awards for our products and service and strive to help people achieve their financial goals with ongoing support. Our industry awards cover everything from the quality of products, our service standards, and our dedication to innovation, underlining our commitment to offering a market-leading experience from beginning to end.
Learn more with FAQs
Frequently asked questions
We're committed to providing you with as much information as possible so you can make an informed decision as to whether a lifetime mortgage is the right solution for you – we appreciate that equity release might not be for everyone, which is why we have a dedicated FAQs page to offer key information.
Our FAQs cover a range of topics, including (but not limited to):
- Do I need to involve my family when making a decision?
- Do I still own my own home?
- Can I end the plan early?
Read our range of equity release FAQs