But even without the new directive, banks have had problems in granting mortgage loans to retirees. “The banks and savings banks now also offer real estate financing for seniors,” says Sebastian. For real estate loans for retirees, this is hardly different. Few people start to finance real estate when they reach retirement age, but the Housing Loan Directive means that pensions are already very important when borrowing. Construction, real estate and housing finance for pensioners and pensioners.
Mortgage lending – house financing – advice
Most pensioners are aware of the problem: they have a debt-free home and still need financial leeway to plan their retirement or rebuild the building. The credit requirements of pensioners are criticized by many banks, and the real estate financing is difficult for the retirees. In addition, many retirees hope for as low a load as possible.
There is now an optimal solution for this: the retirement mortgage. Pensioners can raise up to 50% of the property value as a pension mortgage. Conversely, once a year you have the opportunity to repay the loan volume through special repayment. You can pay it off completely. You do not have to pay off your retirement mortgage! Here you have a “special product for pensioners”, the optimal real estate financing for pensioners, without age limit guarantee.
Special product for retirees and pensioners with unencumbered or slightly burdened real estate. Loans of up to 50% of the market value of the property are possible. Loans can also be terminated in installments. If a refund is required, it can be changed without further fees. Repayment of the loan can be made wholly or in part at any time – without prepayment penalty.
Conclusion: A good offer for retirees who have the opportunity to convert the capital tied up in “stones” back into capital. What is the risk of the heir? If the borrower only pays the default interest and dies, the offspring will have the legacy of the credit. After the death of the borrower, the offspring can either repay the loan from their own capital, sell the object and repay the loan from the proceeds of the sale, or the descendants can refinance and refinance the loan business.
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Real estate loans for pensioners
A real estate loan for retirees is difficult – many banks seem to neglect the buying power of over-60s still. Even today, many credit institutions discriminate against retirees when it comes to consumer credit. There is often talk of discrimination based on sex. Alone due to their age, they are often denied loans or granted only to provide extra extra security.
For real estate loans for retirees, this is hardly different. Of course, there are also service providers that approve real estate financing for retirees, but often only with much lower repayment rates than for young borrowers, with a much shorter term or with a guarantee of a testator. There are now some credit institutions that also offer retirees special offers by providing age-independent land or back mortgages.
The advantage of retirees is obvious. As a matter of fact. For added security, the lending value of the property is reduced and the equity ratio increased. As a result, real estate loans can provide even more security for pensioners than for young people. The exempt object is loaned, which improves the liquidity situation in old age.
If the mortgagee dies, the house bank has the right to sell the property. This form is particularly suitable for retirees who have no offspring and want to be economically mobile in old age.