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.
Pure Retirement’s Redesigned Calculator Simplifies Client Conversations Around Optional Partial Repayment
Many consumers are unaware that with some lifetime mortgages, they can make optional monthly repayments to reduce the overall cost of borrowing. Advisers play a crucial role in explaining this flexibility, helping clients understand how even small regular payments can significantly reduce the impact of compound interest over time
Pure Retirement’s redesigned lifetime mortgage repayment calculator offers advisers a smarter way to illustrate long-term borrowing costs alongside the benefits of making monthly optional repayments. Simply enter the property value, loan size, interest rate, payment amount and house price growth percentage. The optional partial repayment calculator will show the impact these payments have on the balance, the equity remaining and if any Early Repayment Charges (ERCs) are applicable.