Pure Retirement have released the following update (see below for details). Full product details from Pure Retirement are available here. Contact our team to discuss any cases or criteria in detail across their full range.
Announcement
In Pure Retirement’s latest quarterly report, the specialist later life lender reveals consumers’ most popular use of equity release. Home improvement is the number one reason why both new customers and existing borrowers release funds, closely followed by debt and mortgage repayments for new customers. This highlights a split between aspirational and needs-based requirements.
Pure Retirement’s CEO, Paul Carter, comments: “These trends emphasise the continuing need for the lifetime mortgage sector to deliver effective solutions for diverse customer needs. As a committed lender, we hope this report helps you to widen your knowledge and understanding, enabling you to continue delivering best outcomes for your clients.”
In addition, the quarterly report features insight on changes to the annual income an average retiree needs, and the positive growth expected in 2024 for the UK’s later life lending market.
Read the full report on Pure Retirement’s website here >>