Even in a banner year for Pure Retirement, the standout has been the launch of our new Sovereign range. Expressly designed to open up the equity release market to more consumers than ever before, it offers market-leading flexibility on ERCs and building criteria while still offering our range of fee-free options and award-winning service.
That service has been made possible by a comprehensive expansion of our team, including the addition of a dedicated Servicing team to cater specifically to direct customer support. We now also boast a National Key Account Manager, three BDMs & office-based relationship managers to guarantee first-class service and national coverage. Furthermore, we’ve also appointed web and software developers as part of our dedication to continuous innovation and our ethos of ‘service made possible with technology, made meaningful by people’, culminating in what’s believed to be the market’s first adviser-facing mobile app.
Completions will top 6,000 and with a run rate taking us far In advance of 8,000 as we move into 2019. This equates to double our 2017 results with lending of circa £350m by year’s end and a run rate taking us closer to £500m on a rolling basis, a growth of 158% and 160% respectively on last year. This in turn means our market share will have increased from 7% to 11% and our profit for the year will be up by some 137% year-on-year. All this combined has allowed us to be named the fastest growing company in Yorkshire, a huge accolade and one that has helped significantly raise the profile of our sector.
We’ve continued to develop our webinars and roadshows to provide a series of resources and information streams that remain free to access for registered advisers, and in total we have brought 15 webinars to the wider sector. Additionally, we’ve helped businesses by producing white label marketing support, allowing them to educate clients of the sector’s opportunities via support we believe to be unparalleled. We’ve also recently expanded our marketing toolkit to include a digital element to help advisers to get the best out of the market in an increasingly online world.
Our continued AIRSourcing offers the market easy access to sector-leading tools free of charge, and have also led the way in being the first Equity Release lender to integrate with AIRSourcing allowing advising to now generate KFI’s direct from the sourcing tool. It’s part of Pure’s wider policy of ensuring that we offer the support and assistance required to new entrants to help them succeed in the market, as is our commitment to support the FSE and MBE exhibitions and to work closely with all the clubs.
We’ve also partnered with third parties to produce adviser-facing content, including the quarterly PERC newsletter which currently reaches 30,000 IFAs nationwide. There’s also been increased usage of The Adviser Guide To Equity Release, produced by Pure in conjunction with the ERC, with the last twelve months seeing record levels of uptake totalling 2,500 downloads of the guide and its component parts.