Pure Retirement Classic Super Lite

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

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Pure Retirement Classic Super Lite Review

Classic Super Lite Key Details

Type Rate APR
Pure Retirement Fixed 2.76% 2.90%

Scheme Incentives

  • Free Valuation
  • Free Application

Scheme Offers

  • Fixed Early Repayment Charges
  • Downsizing Protection
  • Guaranteed Inheritance
  • Free Fees Option*
Pure Retirement Classic Super Lite

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 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 in’s and out’s of equity release, as you deserve only the best.

However, 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 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 & How Does It Work?

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

An equity release mortgage 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. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.

Equity release is available for individuals or couples over 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.

Learn More: What’s Equity Release & How Does It Work?

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Most popular reasons for releasing equity

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.
Learn more about the various Pure Retirement equity release schemes..

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 Voluntary Repayment Plans are only accessible through a select group of specialised equity release intermediaries, one of which being Equity Release Supermarket. The Pure Classics are designed for consumers who want repayment flexibility and access to funds both immediately and throughout retirement, whenever the need arises.

Minimum Property Valuation

The Pure Retirement Classic Plans have a minimum property value of £125,000 and a maximum UK property value of £2 million. The property must be the primary residence and must be located in England, Wales, Scotland (Mainland) or the Isle of Wight. When determining the value of flats and maisonettes, Pure Retirement will only consider 85 percent of the valuation.

Property Location Requirements

Pure Retirement will take freehold and leasehold properties in the United Kingdom, as well as leasehold properties in England and Wales. Pure’s leasehold standards are stated as a minimum of 90 years. In addition, the youngest applicant’s age plus the remaining lease term must total a minimum of 160 years.

Single vs Joint

On a single & joint life basis, the Pure Retirement Classic Voluntary Payment Super Lite Plan is accessible to a maximum of two applicants. The minimum age for entry is 55 years old, with a maximum age of 80 years old (of the youngest).

Minimum Release

This Classic Partial Payment plan has a low minimum loan of £10000 and a maximum discharge of £1 million.

Scheme Features

Pure’s Classic Voluntary Payment Plans are lifelong mortgages that attempt to provide an initial cash lump sum with the opportunity to make repayments. Although initial borrowing may be possible in the future, these plans are simply single lump sum plans with no further drawdowns expected.

The industry-recognized ‘No Negative Equity Guarantee’ is included in all variants of the Pure Retirement Classic plans.

Valuation Features

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

Early Repayment Feature

On their Classic Super Lite product, Pure offers a set early repayment charging (ERC) arrangement. These ERCs 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

On a single & joint life basis, the Pure Retirement Classic Voluntary Payment Super Lite Plan is accessible to a maximum of two applicants. The minimum age for entry is 55 years old, with a maximum age of 80 years old (of the youngest).

Scheme Options

Pure has introduced a 10% Voluntary Payment Option in this Classic Lifetime Mortgage scheme, which is effectively meant as a roll-up equity release program. After the plan has been running for 6 months, voluntary payments allow the homeowner to make ad-hoc repayments of 10% of the original loan amount each year with NO penalty.

Paying off portions of the interest charged can assist control the plan’s future debt, and it can be run on an interest-only or repayment basis, or simply ad hoc as needed. This is crucial for people who want to ensure that their beneficiaries receive some sort of inheritance.

Repayment Options

The Downsizing Early Repayment Charge Exemption is included with the Classic Voluntary Payment equity release schemes. If the homeowner decides to sell after the plan has been in existence for 5 years, this provision 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.

Inheritance Protection

The Guaranteed Inheritance Feature is an inheritance protection feature offered by the Pure Retirement Classic line. Pure Retirement will automatically secure a percentage of the future sale value of the house based on the amount initially withdrawn at no additional cost to the homeowner. As additional funds are drawn down, this will be updated.

Application Fees

On the Classic Voluntary range of lump sum plans, there is presently a generous free unlimited valuation, allowing fee-free application.

Cashback Options

Pure Retirement Life plan updates are still in the works. We will give an update soon.


*With the Pure Retirement Classic plan, you can choose whether or not to pay the application cost. 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: 4.85

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!

Contributors: Nicola Date, Katherine Read
Reviewed by Francis Hui

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.

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Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.

Use our free equity release calculator & see how much you can release today.

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Written by
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.
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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.

Written 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.
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Written by
Katherine Read
Financial Planning Reporter

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.

Written by
Nicola Date
Writer & Financial 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.

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