"The changes we are delivering today will further simplify the range and give advisers even greater confidence in recommending Classic to their clients"
- Chris Buchanan, head of product at Pure Retirement
Pure Retirement have made several enhancements to its Classic range of lifetime mortgages in addition to offering personalised pricing and a 21-day KFI rate guarantee.
Pure Retirement has removed the £500 arrangement fee on all new Classic quotes, making the range even accessible and meaning that advisers will no longer have to compare fee and fee-free product options.
Going forward, Classic lifetime mortgages will have no upfront fees, with free valuations available on properties up to £2m, while existing Classic customers will also benefit with the removal of the arrangement fee taking effect on new further advances to benefit those seeking to take out additional borrowing.
Existing customers can now access further advances up to the age of 90 for the youngest borrower, (providing completion occurs on or before age 89 years +364 days), allowing for additional further borrowing options for those at the upper end of the applicant age bracket.
Recently, the lender announced that it will extend the Classic offer validity for purchase cases to 90 days from the standard 42, ensuring advisers and their clients have more time to complete when customers are undertaking the purchase of a property.
Chris Buchanan, head of product at Pure Retirement, said: “Our Classic range is already a market leader and combined with Pure’s exceptional service reputation makes Classic a compelling option. The changes we are delivering today will further simplify the range and give advisers even greater confidence in recommending Classic to their clients, whether that’s no arrangement fee, access to further advances in the clients’ later years, or 90 day offers on purchase cases.”
