The lifetime lender reports its portfolio growing from £1bn in 22019 to £2bn in 2020.

It has also enjoyed a 23% rise in customer numbers in the 12 months to July along with a 15% increase in staff, with customer-facing roles growing by 50%.

In January to July, meanwhile, lending has gone up by 19%.

In May of this year, the lender brought out a new pricing model for its Classic range that offers personalised interest rates based on a borrower’s postcode, property type, age, and loan amount.

Pure Retirement chief executive Paul Carter comments: “Given the tough landscape that has faced us all, it’s gratifying that as business we’ve not only demonstrated resilience, but also the determination to grow and best serve our customers’ needs.

“The latest milestone underlines and validates our commitment to, first-class service levels, market-leading products, and technological innovation, and also reinforces what a fantastic team we’ve got, continually working to ensure we remain a leading presence in the equity release market.”