Pure Retirement has reintroduced its Heritage Freedom range, offering customers the ability to repay up to 20% or 40% of their loan each year, free of early repayment charges (ERCs).
The Heritage Freedom range allows up to 12 optional repayments per year, aimed at those customers who prefer to set up a regular monthly payment and reduce the impact of interest roll up.
The range is available to applicants from age 55 to age 80, and offers up to 37% loan-to-value (LTV) depending on age.
Minimum property value starts at £70,000, with no maximum property value.
Loans are available from £10,000 up to £800,000, which can be taken as either lump sum or with a drawdown facility.
Chris Buchanan (pictured), head of product at Pure Retirement, said: “Pure Retirement continues to lead the later life lending market through product innovation, new technology, and delivering great service.
“Our Freedom 20 and Freedom 40 products have been designed to give customers greater flexibility when it comes to making optional repayments, giving them the ability to repay more without an early repayment charge.
“We’re really excited to be reintroducing the range to the market and underlining our commitment to product innovation.”
