Press Releases

Pure Retirement Offer Free Energy Performance Certificate on Classic Lifetime Mortgages

25th July 2022

Pure Retirement are pleased to offer new customers, who take out a Classic lifetime mortgage, the option to receive a free Energy Performance Certificate (EPC) post-completion.

A first for the equity release market, the initiative will see the survey offered on completion, to be carried out by a third party, Vibrant Energy Matters. Customers will then be provided with an EPC, detailing the current energy efficiency rating of their property. It will also show potential levels of efficiency once changes have been made, details of where these efficiencies can be found, and suggested works (including costings and estimated long-term savings).

This latest offering to consumers comes at a time when home improvements are a major reason for funds requests among equity release consumers, and all amidst the recent rising costs of energy. While greater living space naturally remains a priority for most, four in five people see energy efficiency as increasingly important. Only one in three, however, are looking to make improvements to the energy efficiencies of their home and 15m properties in England and Wales are in need of changes to receive an EPC rating of C.

Speaking of this latest development, Head of Product Brendan Gilligan says: “While consumers are becoming increasingly conscious about the energy efficiency of their homes, for many it's difficult to know where to start or to establish the likely costings for change. Energy efficient improvements are great for the environment but also have the potential to reduce utility bills and increase property value. So, offering a free EPC to our customers on completion is our way of starting that journey for our customers, adding further value to our product and service proposition.”

To receive a free Energy Performance Certificate survey, advisers will simply need to tick a box in the application form to opt-in when applying for Pure Retirement's Classic range.

The Classic range 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. The range 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.

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