Pure Retirement are pleased to announce the launch of its new Emerald range, a completely new suite of lifetime mortgages designed to offer customers flexible repayment options and enhanced LTVs.
Under the Emerald range, customers will be able to benefit from the option to repay up to 12% of the initial amount borrowed annually, without incurring ERC, with optional repayments able to be made with a direct debit facility alongside traditional bank transfer and debit card methods. Additionally the new product suite features Pure's highest LTVs, ranging from 29.5% for those aged 55 all the way to 57.5% for those aged 82 and over, alongside the option of 4% cashback.
Customers will also benefit from the same personalised pricing as introduced on Pure's Classic range earlier this year, with an individualised rate based on the loan amount, age, property value and type, and its location. Arrangement fee-free package options are also available on all products in the range, as well as downsizing protection and fixed early repayment charges being included as standard.
Available to those aged from 55 to 95, the Emerald range accepts properties from £120,000 (£150,000 if ex-local authority) up to £2m (£1m if in Wales or mainland Scotland). The minimum initial loan is set at £10,000 (£20,000 on cashback products), with the maximum initial loan amount sitting at £950,000. A drawdown facility is available on all products for those that do not require all funds on day one.
As part of its 'Go Green With Emerald' initiative, Pure Retirement will also plant a tree for each of the first 50 completions on the new range, in partnership with the Yorkshire Dales Millennium Trust.
The launch of the new product follows a prolonged period of enhancements and innovation to the lender's existing products. This has included personalised rates direct debits and ERC-free optional repayments being added to its Sovereign range (meaning all product ranges now offer ERC-free partial repayment options), and the launch of the Heritage Freedom 20 range affording customers up to 20% annual repayments ERC-free.
Speaking of the new range, Head of Product Brendan Gilligan says: We're really excited to announce the launch of this new product range as it will give even greater choice to consumers at the higher LTV end of the market. With consumer confidence returning and many reassessing their retirement priorities, it's more important than ever to be offering a range of innovative and flexible products that meet customer needs. The launch of the Emerald range builds on the innovation we've been undertaking throughout the year, by offering a comprehensive package of attractive features encompassing flexible optional repayment facilities, high LTVs, personalised rates and up to 4% cashback.
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