Pure Retirement Classic Elite Super Lite

Contributors: Nicola Date, Katherine Read. Rachel Wait & Reviewed by Francis Hui

Are You Considering the Classic Elite Super Lite Scheme? What are the Eligibility Requirements, Features, Interest Rates & Scheme Options? Discover If This Equity Release Plan Is For You.

Before You Start Reading...

Let's See How Much You Can Release 👇


Equity Release Calculator

Value of Your Home?


Drag me

🔒 100% Secure & Fast. Takes Just 8 Seconds.

Now, compare and save: Search over 200 equity release council approved plans and find the best deal for the amount of money that you need.

Pure Retirement Classic Elite Super Lite Review

Classic Elite Super Lite Key Details

Type Rate APR
Pure Retirement Fixed 2.77% 2.83%

Scheme Incentives

  • Free Valuation
  • Free Application

Scheme Offers

  • Fixed Early Repayment Charges
  • Downsizing Repayment Charge Exemption
  • Fees-Free Option*
  • 3-Year ERC Exemption**

I think you’ll agree with me when I say:

It’s REALLY hard to choose the best equity release scheme with all the choices available.

Or is it?

Is the Pure Retirement Classic Elite Super Lite, equity release scheme the best?

Don’t let your equity release dream become a nightmare!

Luckily, we’re here to guide you on the ins and outs of equity release, as you deserve only the best.

However, it’s important to remember that not all plans are suited to each individual. You need to look for one that will serve your home, your lifestyle, and the reason why you’re considering equity release in the first place.

As leading experts in the field, we’ve delved into hours of research, unpacked all the equity release plans on the market (we’ve reviewed over 250 schemes!), and discovered the best in the business.

Could the Pure Retirement Classic Elite Super Lite be the right equity release plan for you?
We’re here to help you:
Pure Retirement is one of the leading equity release providers on the market and might just be the answer you’ve been looking for.
Can you truly go wrong with Pure Retirement?
Let’s find out!

What’s Equity Release?

An equity release mortgage (see What’s Equity Release?) is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care.

We’ve summed up the most important information about the topic in this quick video.

Who Are Pure Retirement?

Pure Equity Realty is a locally owned and operated brokerage firm1 that prides itself on being a committed and well-educated group of real estate professionals that are always seeking to deliver the best possible service to their customers.
Here’s a range of Pure Retirement release plans you can choose from.
Pure Retirement Classic Elite Super Lite

Scheme Background

Pure Retirement, a lifetime mortgage lender and a leader in the retirement lending market for homeowners aged 55+.

Formed in 2014, Pure Retirements’ wealth of experience helped form its equity release plans both in the higher maximum loan part of the market and the lower competitive interest rate end.

Pure Retirement also aims to minimize set-up costs using cashback & fee waivers on their drawdown and lump sum lifetime mortgage plans. This makes the Pure Retirement Classic range of plans one of the lowest interest rate and application cost-to-market equity release schemes available.

Pure Retirement Classic Range

The Pure Retirement Classic range of drawdown lifetime mortgage plans are funded by Rothesay Life – a leading UK life insurer. There are many versions of the Classic Drawdown plans – the Lite and Midi. The plans only differ in the size of the loans they will provide at certain ages and the consequent interest rate that Pure Retirement applies.

Classic Drawdown Equity Release Plans

Their Classic Drawdown Equity Release Plans provide an initial capital lump sum, which aims to offer a more competitive interest rate than its industry colleagues. Combining balance control measures with their flexible 10% partial repayment facility, along with competitive lifetime mortgage interest rate, Pure Retirement aims to offer this drawdown equity release scheme to a wider generic audience of retirees.

Eligibility & Requirements

The Pure Retirement Classic Elite Lump Sum Super Lite is developed exclusively for homeowners in England who have greater property values and want a larger tax-free lump sum than standard.

Minimum Property Valuation

This Pure Retirement Lifetime Mortgage requires a minimum property appraisal of £2 million and a maximum valuation of £5 million.

Property Location Requirements

To be accepted, the property must be located solely in England and must be the homeowner’s primary residence.

Single vs Joint

The Classic Elite equity release mortgage from Pure Retirement is offered on a single or joint life basis, with a minimum age of 55 for the youngest homeowner and a maximum age of 84 for the oldest homeowner at the time of application.

Minimum Release

The Pure Retirement Max Drawdown plan has a minimum equity release of £100000 and a maximum equity release of £1850000.

Scheme Features

The Pure Retirement Classic Elite Lump Payment plan was created for property owners with a greater net worth who want a larger than normal equity release lump sum.

This Pure Retirement Lifetime Mortgage scheme gives a one-time tax-free cash lump amount that the homeowner can utilise right away. Pure Retirement intends to offer not only some of the highest maximum loans, but also some of the lowest set-up charges, potentially putting the most money in the hands of the homeowner.

Downsizing Early Repayment Charge Exemption is included in the Pure Classic Elite Super Lite Lump Sum equity release programs. If the homeowner decides to sell after the plan has been in place for at least 5 years, this feature kicks in. If the home they want to move to doesn’t fit Pure Retirement’s financing conditions, they can repay the loan with no penalties.

Valuation Features

The Classic Elite collection of lump sum plans is presently offering a substantial free unlimited valuation.

Early Repayment Feature

The early repayment charges for this range of Classic Elite plans from Pure Retirement and Rothesay have been clarified. Early repayment charges (ERCs) are stipulated in the Classic Elite Super Lite Lump Sum plan, which indicates that a fixed proportion of the amount repaid will be levied within a specified period. These begin at 10% and gradually decrease by 1% per year until year 10. After that, the ERC is kept at 1% until year 15, after which no penalty is imposed.

Equity Release Council Status

Because Pure Retirement is a member of the Equity Release Council, any beneficiaries will not be liable for any debts that exceed the property’s final valuation.

Joint Application Features

The Classic Elite equity release mortgage from Pure Retirement is offered on a single or joint life basis, with a minimum age of 55 for the youngest homeowner and a maximum age of 84 for the oldest homeowner at the time of application.

Scheme Options

Pure Retirement has incorporated a 10% Voluntary Payment Option in the Classic Elite Lump Sum Super Lite plan, which is essentially structured as a roll-up lifelong mortgage.

This can help manage the plan’s future balance, and it can be used on an interest-only or capital-and-repayment basis, or simply on an ad-hoc basis whenever the need arises. To be qualified for the Elite plan, you do not need to show proof of affordability or income. The aspect of interest payments can be crucial for those who want to ensure that their beneficiaries receive a larger bequest.

Repayment Options

It permits the homeowner to make ad hoc repayments of 10% of the initial loan amount each year, with no penalty, right after the plan begins. The least amount that can be reimbursed is £50, with a total of 12 repayments allowed per year.

Application Fees

On the Classic Elite series of lump sum plans, there is now a generous free unlimited valuation, as well as the option of paying an application fee, allowing fee-free entry upon application to the program if desired.

Cashback Options

Pure Retirement also uses cashback and fee waivers on their drawdown and lump sum lifetime mortgage plans to reduce set-up costs.


*The Pure Classic Elite Super Lite Plan gives you the option of paying the application fee or not. The interest rate will rise as a result of choosing the fee-free agreement.

**If the loan is repaid within 3 years of death or long-term care of the spouse, the 3-year early repayment charge exemption applies to joint life applications.

Editor’s Rating: 4.92

Pure Retirement's Other Equity Release Schemes

Are you looking for a specific equity release scheme?

These are some of the schemes offered by Pure Retirement.

Not what you're looking for?

Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare interest rates on equity release!

Before You Go!

How Much Can You Release?


Equity Release Calculator

Value of Your Home?


Drag me

🔒 100% Secure & Fast. Takes Just 8 Seconds.


It's VERY FAST and, takes just 8 seconds

Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

rachel w

Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
john lawson profile.jpg

Written by
John Lawson
Founder SovereignBoss

John is passionate about education and has made it his life-long mission to assist UK citizens on their future financial options, with a specialist interest in equity release, and SovereignBoss is the natural extension of this passion.

Reviewed by
Francis Hui
Senior Risk Manager

Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
kath icon

Katherine Read
Consumer Affairs Writer

Since joining the editorial team at SovereignBoss, Katherine has become focused on bringing transparency to finances and opportunities for those approaching retirement age. She writes on the topics of equity release, home reversion, and mortgages.

Nicola Date
Writer & Journalist

Nicola is a financial writer for SovereignBoss and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.

See How Much You Can Release 👇

Use the QUICK form below.


Equity Release Calculator

Value of Your Home?


Drag me

🔒 100% Secure & Fast. Takes Just 8 Seconds.

As Featured In
yahoofinance marketwatch