Pure Retirement

Even during a challenging year for everyone, at Pure Retirement we’ve never lost sight of our key pillars of technological innovation, market-leading service and innovative product offering.

One of our key headline achievements has been the updating and enhancing of our online KFI portal, which came at a time when increased numbers of advisers were using digital mediums to submit applications and generate KFIs. The new technology allows advisers to create KFIs 65% faster than the previous version and streamlines the process for advisers with just a single login needed throughout the application process, whether creating a KFI, making an online application, or tracking ongoing cases. In addition to developing and enhancing our own technological offering, we’ve also been working closely with third parties such as Iress and Advise Wise, and integrating our systems for a seamless transfer of information and the ability to provide real-time data for advisers seeking to generate KFIs.

On the service front, our Intermediary Sales team have remained dedicated to providing market-leading support to advisers, and the team has benefited from a recent expansion and restructure that has allowed them to continue to provide market-leading support to advisers amid the current pandemic and beyond. The team now consists of three BDMs, 3 Telephone BDMs, 3 Relationship Managers, an office-based Sales Manager, and a National Accounts Manager to ensure that financial advisers will always have the support they need whenever they need it.

Additionally, existing account holders have benefitted from a comprehensive, near-threefold expansion of Pure’s Customer Account Servicing team from 9 members last year to over 30 at present, as part of a wider commitment to continue providing market-leading service standards to customers throughout the duration of their lifetime mortgage. As our loan portfolio has grown to total over £2.5bn this year, the expansion of the team has allowed us to continue providing market-leading service and has ensured that customers have remained at the forefront of our activity even as our loan books have grown. We’ve also been developing new customer-facing literature, to help customers better understand the post-completion features available on their plans, and the necessary processes to access them.

We’ve also consistently updated our product offering throughout 2020. As well as the updated criteria and widened distribution of existing ranges, this mentality culminated in the launch of our Heritage Freedom 40 product, offering customers the ability to repay up to 40% of their loan each year ERC-free. This 40% overpayment allowance is the most flexible in the equity release market, with the next best product allowing 12.5% overpayments. In addition, Freedom 40 also allows up to twelve repayments per year, allowing customers to set up a monthly payment and reduce the impact of interest roll-up.

The product has been designed to cater to those that want to make either monthly payments at a higher amount then any equity release product will currently allow or a single large payment from an anticipated future lump sum, typically from a pension pot, inheritance, or investments.