Lifetime mortgage lender Pure Retirement has surpassed £5 billion of loans serviced, following its most recent back book integration, its second of the year.
These new customers to Pure will have access to the online customer account management platform, MyPure, which enables customers to view their accounts, and to download documents such as annual statements, as well as offering the ability to complete their Certificate of Continuing Occupancy online.
Customers with drawdown plans are able to apply for a cash release online, streamlining the process compared to postal methods, and additional queries will also be reduced as applicants are guided throughout the journey to ensure all necessary information is captured. Ad-hoc payments can be made via MyPure as an added convenience for plan holders, with the platform also enabling the set-up of recurring regular payments if customers so wish.
During 2023 Pure Retirement has retained its 14% overall market share of new initial advances despite the challenging economic landscape which has impacted consumer confidence and affected the financial services industry as a whole.
Paul Carter (pictured), Pure Retirement’s CEO, said: “It means a lot to continue to build our portfolio and to be a trusted servicer of choice within the later life lending sphere. It comes at the end of a great year for us a business that has brought a number of key technological innovations to help drive that end-to-end journey for consumers and advisers, and a year that has also seen us reintroduce all of our product ranges and operate with full whole-of-market availability.
“To end 2023 on such a key milestone validates our customer-first approach, and we look forward to exploring additional servicing contracts in 2024 and beyond in addition to our market-leading proprietary products.”