Student
Loan
Education is expensive sometimes. To finance this project, you can take out
a student loan. Two solutions are available to you: the student loan guaranteed
by the State or the classic student loan that you can get from your bank.
Seniors Loan
Banks have long been reluctant to make loans to seniors, including housing loans for a
longer than average, because of their age.
Yet the situation has changed in recent years. Seniors are sometimes
particularly creditworthy customers who are not afraid of unemployment. For the
lucky ones, a level of comfortable retirement and a substantial personal
contribution allows them to be particularly interesting clients.
The other factor that has also pushed the credit institutions to soften
their stance and to more easily grant funding for senior citizens, is the
lengthening of life expectancy. According to a study conducted by the economic
and Social Council in March 2008, life expectancy is ten years, plus three
years for females and two years for men. The direct consequence of this change
is that today, a person 60 years a very large chance (three chances in four
precisely) to reach the age of 80, according to the same report. Taking into
account this fact, a senior 60 years can therefore quite contract a credit over
15 or 20 years unless his death occurring during the life of the loan.
Therefore, be aware that if you want to buy real estate or if you wish to
undertake expenses for the trip of your dreams, the age is necessarily a
barrier to your projects.
However loans to seniors have special conditions (particularly in terms of
insurance) and credit can often be expensive.
Two forms of credit have recently emerged. It is the bonded mortgage loan
originally launched by property of France and the life mortgage credit land. These loans have in common to
integrate the value of housing to evaluate the creditworthiness of the borrower,
while conventional loans do take into account the income of the borrower.
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