With the increase in life expectancy and the aging of the population, the projects of the over 50s are more than ever the attention of lending institutions!
Real estate credit players now offer specific products to enable seniors to borrow and secure their mortgage.
Lenders, particularly attentive to the income of future buyers and their debt ratio, have developed loans adapted to the income profile of seniors to take into account the decline in income related to retirement. These “tailor-made” credits may for example provide for a decrease in the monthly payment at the time of the cessation of activity.
All real estate loans must be accompanied by a disability death insurance covering death and total and final disability .
This loan insurance provides protection against certain life risks (death, disability, unemployment, temporary incapacity for work, etc.) and protects his heirs during the credit period. However it can be complicated for a senior to make sure, precisely because of his age.
The banks have thought of everything with special solutions senior that guarantee the borrower up to a particularly advanced age: 80 or 90 years. It should be noted that some players offer lighter and easier medical formalities via partner medical centers.
The price of death insurance disability is sometimes a brake to achieve his project since for a senior contract the insurance premium can double or even triple compared to a standardized contract.
To take out an insurance contract other than that of your bank, that is to say opt for a delegation of insurance, can allow you to make significant savings. The total cost of mortgage can be reduced by up to 20% 1 .
“Thanks to exclusive rates negotiated with our insurance partners, we can save you thousands of euros1 while optimizing the guarantees of your contract.
1 . Give as an illustration only. This document does not constitute an offer or solicitation and should not be construed as investment advice. It does not replace a detailed study of the situation of a potential borrower to accompany it in its reflection and in the implementation of its real estate project.
2 . Borrowers should be aware of the risks associated with a home loan in order to know if such a transaction suits them and ensure that they understand the obligations related to this transaction, such as those related to the repayment of a mortgage and debt born of the granting of such a loan.