Lifelong Mortgage Loan. What Opportunities?
The elderly increasingly demand Dansoud Knagger for liquidity. Even annuities.
We are now in our column our money. Today we talk about Dansoud Knagger because asking for a loan nowadays is not easy any more for some categories like that of pensioners. Once it was perhaps the most disadvantaged for the Dansoud Knagger almost almost today is redeveloped because it has a secure entrance, which with the unemployment that exists today is even appreciated. You have analyzed the situation.
What we have noticed has been in addition to a large number of pensioners requesting a loan perhaps because of the crisis, not only affecting pensioners but also their family children or grandchildren. The loan is then distributed within the family. The most peculiar thing we noticed was the large number of pensioners who request liquidity as the finality of the loan, therefore the pure liquidity not aimed at buying a car but only to have a nest egg probably due to expenses that increase rather than I am able to cover but also to help children and grandchildren. The percentage is much higher compared to age groups below 65 years. Obviously, purposes such as buying a car in the case of pensioners are less required but so far we are in a logical speech. Instead, as far as home restructuring is concerned, travel, ceremonies, any type of expense, even those for health, are less required than pure liquidity.
The main purpose is to have available liquidity. How much is required?
As for the over-65s, on average they ask for € 19,000. Much more to what men and women younger than 15 and 13,000 euros respectively ask. But it becomes even higher if we only look at the slice of people that requires liquidity, we also reach 26 thousand eruo. An even higher figure. This is also justified on the one hand for the instrument of the transfer of the fifth of the pension which gives the concrete possibility of disbursement of such a large amount, which is very difficult for a personal loan. With the fifth transfer, an amount of € 30 40,000 can be disbursed more easily.
The assignment of the fifth is a way. What is the lifetime mortgage loan?
This is a new tool on which the legislator is recently making changes, lowering the minimum age to request it at 60 from the current 65. Prerequisite is the mortgage on the property, it is necessary to be the owner, the couple of the single owner can receive the amount he wants to borrow from the bank without ever having to repay the bank in any way with installments. It is a sum that is paid by the bank. At the end of the life of the owners there are several exit options for which the bare ownership contract is not lost, but the heirs still have the option to redeem the mortgage thus maintaining the ownership of the property. Or another recent change in the new text of the law is the possibility of repaying not in a single solution as it is necessary to do now. The payment can be repaid to redeem the mortgage. For a certain period of time we do not think about it and then we start to redeem the mortgage with the capitalized interest.
If we do nothing, the property remains with the bank. Is it difficult to access this loan?
Absolutely not, they are good investments also for banks. In fact there are those who have made controversy by saying that it was a further assist to the banks. However, this is actually a tool that allows banks to provide a lot of liquidity easily by creating a strong guarantee, a loan that does not need to be repaid. Without risks.
Think about it, it’s a solution. Dansoud Knagger mortgage annuities, you have to get information carefully. One of the ways to do this is to go to supermoney.eu which our expert Paolo Sansone lent us today.