Mortgage loan after 65 years: possible with the mortgage for senior
It is easier to obtain a loan for the acquisition of real estate at thirty years old than after sixty years. We note that as borrowers approach retire age, obtaining a home loan is complicated. Find out how to get a home loan after 65 years !
Get a home loan after 65 years!
Get a mortgage after 65 years is possible! While conventional deposit banks are struggling to grant mortgages to their senior customers, brokerage firm offers real estate loan widening the real solution for over 65 years. Possibility to borrow a cash envelope for the acquisition of his property while amortizing the money borrowed on hard twenty to thirty years.
Then, the vagaries of life can bring about a profound change such as a move due to divorce or death, etc. After age 65, it is difficult to get a home loan of € 200,000 or more. Generally over 75, the insurance premiums borrower explode and the debt ratio becomes out of standard. Because of this, banks prefer to refuse. A crush on a property, do not wait for the sale of your current property!
The credit that allows you to get a mortgage after 65 years is a to avoid the bridge loan. The bridge loan presents a significant risk in the event of non-resale of the real estate. The longer the time, the higher the interest due on the sale of the good. This can be the conclusion of a total financial loss if the interest comes to represent the value of the property. The expanded real estate loan the elderly up to 95 years. The borrower insurance is optional, however, other types of insurance to cover the outstanding capital can be subscribed.
Characteristics of the expanded real estate credit
The object of the mortgage is the acquisition of real estate that may be different from that taken as collateral. It is also possible to include in the plan the purchase of real estate loans and revolving loans, but also depreciable loans or bank overdrafts. It is also feasible to obtain a cash envelope to undertake work if the purchase is in the old one. Or obtain cash not allocated to a specific expense.
While the amount of is between € 22,000 and € 1,500,000, the amortization period is sixty to four hundred and twenty months. A grace period of 24 months is eligible for the operation of the product. The pre-transaction indebtedness of the subscriber (s) must not exceed eighty percent. The number of loans redeemed or not must be less than 15 credits.
Thus, the amount financed is equal to the purchase price of the property. Then, the ancillary costs are financed by personal contribution or by a complete guarantee on an existing good free of mortgage.