Pure Retirement has seen over 5,000 customers register and interact with its online account management platform, MyPure.
The MyPure platform enables customers to self-manage a number of key elements of their lifetime mortgages.
Offering a further support avenue in addition to continued access to the office-based customer account servicing team, the platform brings the later life lending sector in line with mainstream financial areas such as high street banking and insurance.
The platform feeds into the lender’s commitment to meeting Consumer Duty outcomes – especially relating to consumer support, which explicitly mentions the need to ‘provide clients with self-service tools like online portals or mobile apps to manage their accounts and seek support.’
MyPure enables the lender’s customers to view their accounts, including both balances and transactions, and to download documents such as annual statements.
Additionally, customers will be notified when new documents become available, and have the ability to complete their Certificate of Continuing Occupancy online.
Since the platform’s launch, it has seen over 1,375 Certificates of Continued Occupancy completed, 740 Cash Release applications submitted, 430 one-off optional repayments made and 120 direct debits arranged.
Simon Hayton, chief operating officer, said: “It’s incredibly gratifying to see the MyPure platform continuing to resonate with our customer base, and the number of registrations and interactions has only served to underline what an important tool customers view account self-management as in today’s modern financial landscape – whether insurance, traditional high street banking, or later life lending.
“We created it in recognition of an increasingly diverse and tech-savvy demographic, with additional considerations around Consumer Duty, empowering customers, and facilitating convenience.
“Seeing the continued strong take-up really validates our approach and affords us a really strong foundation on which to continue enhancing and developing MyPure going forward.”
