Press Releases

Pure Retirement Launch Direct Debit Facility on Classic Range

18th January 2021

Pure Retirement are pleased to announce the launch of their new direct debit facility on their Classic range, as they continue to strive to provide customers with tools and options to help them self-manage their accounts as needed post-completion.

The integration of a direct debit facility enables regular monthly repayments of the same amount to be made with minimal effort, negating the need for customers to have to arrange payment each month, and safeguarding against things such as expiring cards which could impact on the ability to make a payment.

These latest enhancements and account management tools come as part of a prolonged period of technical development which has seen full integration with the Iress and Advise Wise sourcing platforms to provide real-time data and instant KFIs, as well as an overhaul of Pure's online portal and product documents in order to streamline the KFI-to-application process for advisers. The launch of direct debits also follows on from the unveiling of repayment calculators, designed to help advisers demonstrate the benefits of making regular repayments to their clients.

The Classic range benefitted from wider distribution throughout 2020, and is designed to offer ultimate flexibility with customers able to make 12 optional ERC-free repayments per year provided they don’t exceed 10% of the initial amount borrowed in a 12 month period. Available to clients aged 55-84, it features some of the lowest lifetime mortgage rates on the market, and in addition customers also benefit from no upfront costs with free valuations and the option of no arrangement fee.

Speaking of these latest developments, Head of Mortgage Servicing Suzanne Latimer says: “With lifetime mortgages becoming increasingly flexible and affording customers the chance to control the rolling up of interest we’re consistently working towards providing facilities to help consumers make the most of their lifetime mortgage and to manage their plans in their own way. It’s exciting to be able to bring this great new development to market and to enable our mortgage holders to conveniently look after their account with minimal effort.”

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