The equity release provider launched its first product in the range earlier this year.
Paul Carter, managing director of Pure Retirement, said: “As we move towards the second half of 2014, it’s clear the equity release market has continued its momentum in which it entered the year.
“Equity release products have become an important, if not essential, source of retirement finance – and are set to play in even greater role in the years ahead, especially in the context of the sweeping changes announced in this year’s Budget.
“We fervently believe that new and innovative products, such as our new lump sum plan, will safeguard the long-term health and growth of the market, by providing new sources of income for retirees.”
The plan’s loan to value ratios begin at 24.5%, rising to 52% at age 85 after which ratios are capped with no upper age limit.
The plan offers free valuations on properties worth up to £500,000, while on loans above £45,000 Pure Retirement will contribute £600 to solicitors fees and £500 to adviser fees.
