Existing customers
Request Your Redemption Statement
If you or your legal client has an active lifetime mortgage with us, you can request a redemption statement using our online form. Full payments are known as a redemption and your redemption statement will include your remaining mortgage balance, any interest due, any payments received, and if any Early Repayment Charges (ERC) apply.
Use our redemption form
Easily request an accurate redemption figure to help you or your clients plan, repay, or switch an existing lifetime mortgage.
Request redemption statement
How we calculate your redemption statement
With a lifetime mortgage, interest is calculated daily and added to your balance monthly (compounded) until the loan is repaid. Your redemption statement will include:
- Any payments you've made since the last annual statement, including Direct Debits received but not yet cleared (if applicable). These will be reflected in your balance rather than shown individually.
- The interest from the date of your last monthly anniversary up to and including the day you plan to repay your mortgage.
- Any additional borrowing (cash releases and further advances) will be shown separately on different statements. For the account to be fully redeemed all accounts will need to be repaid in full.
- Any Early Repayment Charges (ERC) if applicable.
Redemption statement frequently asked questions
Our redemption guide provides full detail on the overall redemption process at Pure Retirement and the questions below provide some quick answers.
Your annual statement typically only shows the capital you still owe on your anniversary date, therefore the compounded interest and any applicable ERCs or payments you’ve made will be added to the redemption statement.