More and more numerous in the French population, especially because of a life expectancy that continues to grow, move the lines. At 60 and over, we still have plenty of projects in mind! An explanation over at http://canakcihaber.com
Between the desires of travel, projects of work in housing or even the acquisition of a new house, not to mention the desire to please children and grandchildren.
How to successfully finance all these projects? Let’s detail in this article the forms of Iago and available financial aid.
Mortgages and loans
Applying for a loan when you are retired is doomed to failure? False! When one exceeds 50, 60, or even 70 years and more, custom-made forms of exist.
These make it possible to finance real estate purchases as well as small purchases via consumer loans. Here is a list of senior loans that you can use.
- Mortgage Life Loan : If you are having difficulty obtaining a loan due to limited resources or poor health, the Mortgage Life Loan allows you to convert the value of a real estate property you own into an annuity paid monthly or in capital (paid only once). The amount of the mortgage life loan varies from 15% to 75% of the value of the property depending on the age of the applicant.
- The bonded mortgage : this is a loan granted without any insurance requested, or even a medical visit. It is the real estate property that serves as a guarantee. The insurance is replaced by a deposit issued by CNP caution. The amount of the bonded mortgage is a percentage of the property, typically 70% of the value.
- Consumer loans : as anyone who wants to finance a project, can make a conventional consumer loan. Banks will grant you this type of loan more easily, because its repayment term is contained and the lesser amount compared to a mortgage.
In general,will find it more difficult to obtain a mortgage loan rather than a consumer loan. Your age, but especially the age that you will have at the end of repayment, are criteria studied by the banks. They are looking for security before lending you money. This is why having a retirement pension but also a real estate asset is an asset.
If your resources are more modest, and the use is complicated despite your different attempts, you can apply for financial assistance, which can accompany you for your projects. They will help you have more resources each month.
Financial aid and support schemes
Because of a pension too small, or facing temporary difficulties, the personal is used to have a reserve of money. This is not a sustainable solution!
Indeed, a consumer loan, or the provision of a sum of money (revolving loan) are tools that rely on generally high rates, and induce a risk of over-indebtedness . To avoid falling into this spiral, other tracks are to explore.
In particular, you can apply for benefits and allowances for Iago. There are many helpers depending on your income but also your health.
- The most known help is the personalized autonomy allowance (Apa). It is intended for people over 60 years of age in dependence, and its monthly amount is capped according to the group iso-resources (Gir) of attachment (from 562.57 € to 1312,67 €);
- Tax cuts : you can benefit from a tax reduction of 25% of the sums paid to stay in an establishment housing dependents, and this without any age requirement;
- Tax: You can take advantage of a tax Iago by employing someone at home. Up to 50% of the amounts committed are deductible, up to a limit of € 15,000!
Note that tax cuts and tax Iagos can be granted to those who are hosting a family member, or a friend, who is over 65 years old.