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Published by marketing, 2018-12-14 04:13:57

Pure Standard Conditions and Details

Pure Standard Conditions and Details.

Retirement FOR FINANCIAL INTERMEDIARIES ONLY.
NOT APPROVED FOR USE WITH CUSTOMERS.
Providing solutions for your future
Product conditions and details

Standard Range

Applicants 60 and 74
Persons with youngest aged between Sole owners of property, joint tenants or, tenants in common
Status Subject to approval
Enduring or Lasting Power of Attorney Not acceptable
Outstanding CCJ’s, IVA’s or Bankrupcy
Property England and Wales
Location £200,000
Minimum Value £2 million
Maximum Value See Acceptable Property Guide
Type
Cash Advance £30,000
Minimum Advance Maximum applied to the property value, and up
Maximum Cash Advance to a Maximum Advance of £150,000
Further Advance Minimum £20,000
Moving House
The lifetime mortgage can be transferred subject to the new
No Negative Equity Guarantee property meeting our lending criteria at the time. We may require a
part repayment of the amount owed if for example, the new
Charges property is of a lower value.
Valuation Fee
Arrangement Fee When the property is sold, the borrower will not have to repay more
Funds Transfer Fee than the sale proceeds of the property, even if it is less than the
Further Advance amount owed including any early repayment charges payable. This
only applies if the property is sold for a fair market price and the
Interest Rate borrower has not breached the terms and conditions of the loan.
Early Repayment Charge The borrower will not leave any debt to family members for the
above reasons.
Repayment on death or long term care
See Tari of Charges document
£895 of Charges document
£30
See Tari

The borrower will need to pay their own legal and
broker advice fees

Fixed at time of cash advance

Fixed percentage of outstanding balance - 6% for months 0-60,
4% for 61-120 months, 0% ERC at 121 months.

The mortgage must be repaid when the borrower (or both
borrowers if they are borrowing jointly) have died, or have
permanently left the property because they need long term care,
for example to move into a care home or to be cared for by
relatives due to medical necessity. In this instance no Early
Repayment Charges are payable.

CLSCD 02/16 v2


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