Pure Retirement has been announced as the latest lender to join the Intermediary Mortgage Lenders Association (IMLA).

The lender’s addition takes IMLA’s membership total to 66, comprising 54 full members and 12 associate members.

Pure Retirement currently has a portfolio of £5bn of loans under management, and provides older homeowners with innovative retirement solutions, offering its range of flexible lifetime mortgages exclusively through intermediaries. It has become the first later life only provider to become a member of IMLA.

Head of distribution at Pure Retirement, Scott Burman, will represent the lender at IMLA meetings.

Burman commented: “Joining IMLA highlights the way the lifetime mortgage space is being increasingly viewed as an effective and mainstream financial planning tool, and we look forward to representing the sector within the association going forward and drawing attention to the ways it’s been helping Britain’s over-55s to achieve their financial goals.”

As a full member of IMLA, Pure Retirement has joined a cohort of lenders which is responsible for more than 90% of the UK’s gross mortgage lending.

Executive director of IMLA, Kate Davies, added: “We are very pleased to welcome Pure Retirement to the IMLA fold. While a number of our existing members operate in the later lending market, Pure Retirement is the first member to focus exclusively on this sector, and we look forward to learning from their perspective and working together to improve the ways in which the financial services industry serves older customers.”

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