Later life lending provider Pure Retirement has launched its Pure Servicing Solutions equity release sub-brand, which focuses on forging strategic partnerships with third party originators.
The new project offers partners two levels of lifetime mortgage service: origination and servicing or servicing only.
Under origination and servicing, Pure will manage the process from initial application to completion and beyond, aimed at lenders in equity release looking for a full-service strategic white label partner.
A servicing only option is also available, ideal for providers who have an originations infrastructure in place, but who want to use an experienced servicing team for post-completion management in conjunction with their own underwriters.
Partners will have access to a dedicated phone line, as well as the expertise of Pure’s wider team, who already oversee a combined total loan portfolio of over £2.5bn.
John Wilso (pictured), head of proposition, said: “In an increasingly competitive marketplace, service is arguably becoming an invaluable differentiator. We’re incredibly proud of our award-winning service, and being able to offer our resources to external parties is the next natural step of our wider strategy, helping to grow the market by ensuring that lifetime mortgage customers have the best possible end to end experience.
“Having taken on a substantial loan back book earlier this year, we’ve proven our ability to work effectively within this space and it’s great to be able to offer our services out further to those who may benefit.”
Suzanne Latimer, head of mortgage servicing, added: “Following the comprehensive expansion of our Servicing team, it’s fantastic to have the knowledge and skills to be in a position to work with external parties and share the resources we’ve built up to ensure that they – and their customers – have a first-class experience with the later life lending sector.
“We’ve a strong customer-focused culture throughout the business, with multiple service-related award wins, and we look forward to sharing our expertise with external partners going forward.”