Equity release lender Pure Retirement has returned to full range availability following the reintroduction of its whole-of-market Emerald range.
The range will accept applications from consumers aged 55-85, with applicants being able to access maximum LTVs of up to 46.1% depending on their age, and advisers are asked to note that the reintroduced product will be lumpsum only.
The range offers a 21-day post-KFI rate guarantee, allowing applicants to assess their options with the peace of mind that they’re insulated from any potential rate increases. Customers will also continue to benefit from the ability to repay up to 12% annually without incurring any early repayment charges.
The latest move comes following the recent reintroduction of the lender’s Heritage range, which re-entered the market last month as a specialist high-LTV product for the over-80s, and also comes amid rate reductions on the lender’s Classic and Sovereign ranges with the lowest rate available now sitting at 5.50%.
Brendan Gilligan (pictured), head of products at Pier Retirement, said: “It’s gratifying to see the market opening up following the widespread effects of last autumn’s mini-budget. A holistic and innovate range of products continues to remain the forefront of market growth of 2023, and we’re proud to not only have restored full range availability to advisers and their clients through the reintroduction of Emerald, but also enhanced our other ranges to continue offering a wide range of attractive later life lending solutions to suit a variety of circumstances.
“These latest changes are only the beginning of a focus on product development over the course of the year, underlining our commitment to providing a market-leading lifetime mortgage offering.”
