Post-Completion FAQs

MyPure is our online account management platform with which lifetime mortgage customers can independently manage and review their plans online. Customers can use this platform free-of-charge to self-manage their lifetime mortgage, view their balance any time, and submit their annual Certificate of Continued Occupancy online. Learn more about MyPure here>

All our products have a porting feature, which enables your client to move the lifetime mortgage to their next home.

The client’s new home must meet our lending criteria, so it is worth advising them before they move on the types of properties that aren’t acceptable by reviewing the lending criteria guide. You can also find product-specific lending criteria via our lifetime mortgage page or use our lending criteria search tool to look-up specific queries.

Please also note that there are charges associated with porting a mortgage, such as a valuation fee, and the client’s solicitor fees based on a normal house move.

Find out more about our porting process in our detailed blog article, ‘Lifetime Mortgage Processes Explained: Porting’ and about our downsizing protection in this blog to explore what downsizing options our lifetime mortgages offer.

Clients may be able to add or remove another person during their lifetime mortgage. This is dependent upon the plan they are on. If someone moves into a client’s home, or a borrower has left the property for any reason, you or your client will need to let us know as soon as possible.

Adding a new person

To add another person to a plan, advisers will need to apply for a transfer of equity with us. Please note, there may be a cost to the client and the transfer will depend on the terms and conditions of the lifetime mortgage.

If the new occupant isn't going to be added to the mortgage but will be residing at the property, we may issue an occupier consent form. This doesn't apply to anyone under the age of 17.

Removing a person from the mortgage

If your client wishes to remove a person from the lifetime mortgage, you, your client or their solicitor will need to let us know. Please note, there may be a cost to the client and the transfer will depend on the terms and conditions of the lifetime mortgage.

If your client wishes to sell their property, they'll need to follow the process described in “What happens if the client wants to make partial repayments or repay early?”.

Some lifetime mortgage plans may have the option to make regular or ad hoc repayments. These repayments are completely optional and depend on the lifetime mortgage selected.  If at any time your clients want to make a partial repayment or set up regular repayment on their mortgage, they  can contact us directly or log into their MyPure portal to make an ad hoc payment or request to set up a standing order or direct debit payment.

You can review the original offer documents for the annual repayment allowance to advise your client on their repayment options. Clients can also review these documents and manage their repayments independently.

By making optional repayments, clients have flexibility over how to manage their lifetime mortgage and the interest that accrues. Please note, different repayment conditions apply to interest serviced lifetime mortgages.

Repaying early

To start this process, a client or their solicitor will need to request a redemption statement from us for information on the full amount owed and any early repayment charges or outstanding fees due.

If the request comes from a solicitor, we may need to contact the client for permission to share the mortgage details.

The interest servicing option can be selected when applying for an initial loan, and an interest rate discount will apply for customers making monthly payments of at least 25% of the monthly interest. After the lifetime mortgage has been set up, the monthly payment amount can't be changed; customers can choose to stop payments at any time.

Please note, once payments are stopped, these cannot restart and the interest rate discount will stop too, customers can, however, take payment holidays. Refer to our interest servicing page for more detail and our interest servicing FAQ document for repayment specific queries.

We issue a Certificate of Continuing Occupancy (COCO) once a year, which clients will need to complete and return to us. This is sent to clients along with their annual statement and will need completing in line with the terms of their mortgage. Clients using MyPure can submit their COCO online via the account management platform.

We provide a comprehensive programme to all our customer-facing staff including Dementia-Friends training to ensure the team is fully trained on empathy, vulnerable customers, difficult conversations and sensitive subjects including bereavement.

In addition, we regularly complete customer surveys and focus groups on our customer product journey to help us understand any extra support we need to provide.

Our full suite of customer literature gives a balanced view on lifetime mortgages and covers all eventualities that our customers may face, in accordance with the Equity Release Council's standards. This material is also offered in large font, braille, and audio formats upon request.

You can find full details on our Customer Care and Consumer Duty by following the links to these specific website pages.

Pure Retirement emphasises the importance of property condition both at application and throughout the lifetime mortgage term. Clients are made aware of their responsibility to maintain the property, such as keeping it clean, clutter-free, and structurally sound in order to be in line with their mortgage terms. Advisers are encouraged to assess property condition early, using visits or photos, to avoid valuation issues and ensure clients understand their ongoing upkeep obligations.

Find more detail on this, in our guide on property condition and preparing clients for valuation.

Yes. Pure Retirement has a well-defined process to support clients and their families during these sensitive times:

• For joint borrowers, if one person enters permanent long-term care, Pure requires confirmation via an original letter from a doctor or care home to update the account.
• When the last borrower enters long-term care, the mortgage must be repaid in full within 12 months of the move.
• In the event of a death, a certified copy of the death certificate is required. For joint borrowers, the mortgage continues in the surviving borrower’s name. When the last borrower passes away, the mortgage must be repaid within 12 months.
• Pure works directly with executors or solicitors to support the estate, providing redemption statements and guidance throughout the property sale or repayment process.
• If the property is not marketed within six months or is unlikely to sell for the required amount, Pure may appoint an asset management company to assist with the sale. Any associated costs are added to the mortgage.
• All our lifetime mortgages come with a No Negative Equity Guarantee, ensuring that neither the client nor their beneficiaries will owe more than the property’s sale value.

We’re committed to delivering a high standard of service to both advisers and customers. Our Customer Care team is trained in best practices and adheres to the high standards set by the equity release industry.

The team offers a transparent and accessible complaints process for both advisers and customers, with dedicated channels for raising concerns and a clear step-by-step procedure available online and in onboarding materials.

Feedback is actively encouraged, and we use this input to continuously improve both our products and services. Our commitment to service excellence has been recognised with multiple industry awards for best provider of service and later life lender of the year. You can learn more about us as a corporation in our about us page and our responsible lending page. On Trustpilot, we’ve received consistent praise for our professionalism, clarity, and customer support. You can explore our Trustpilot reviews here>