Pure Retirement has become the latest lender to join the Intermediary Mortgage Lenders Association (IMLA).
This brings IMLA’s membership total to 66, comprising 54 full members and 12 associate members.
Pure Retirement currently has a portfolio of £5bn of loans under management, and provides older homeowners with innovative retirement solutions, offering its range of flexible lifetime mortgages exclusively through intermediaries and is the first later life-only provider to become a member of IMLA.
Scott Burman (pictured), head of distribution at Pure Retirement, will represent the lender at IMLA meetings.
As a full member of IMLA, Pure Retirement joins a cohort of lenders responsible for more than 90% of the UK’s gross mortgage lending.
Kate Davies, executive director of IMLA, said: “We are very pleased to welcome Pure Retirement to the IMLA fold. While a number of our existing members operate in the later lending market, Pure Retirement is the first member to focus exclusively on this sector, and we look forward to learning from their perspective and working together to improve the ways in which the financial services industry serves older customers.”
Burman added: “We’re really proud to be joining IMLA, especially as we’re the first dedicated later life lender to do so. Joining IMLA highlights the way the lifetime mortgage space is being increasingly viewed as an effective and mainstream financial planning tool, and we look forward to representing the sector within the association going forward and drawing attention to the ways it’s been helping Britain’s over-55s to achieve their financial goals.”