Loans to people over 80
What are we referring to and with what funding to get them? First of all with the adjective over 80 we refer to all those subjects who are at least 81 years old, so the topic is for all those elderly people who start from the aforementioned years, onwards. Considering that our country is getting older, we are talking about a few million Italians, so by indicating the loans for people over the age of 80 we will not refer only to the loan at 81 but we will assume that asking for some form of credit is also referable to loans at 82, and continuing we could also quote the loan at 83 – 84 years. and so on until we come to a real legal “barrier” which, however, concerns only the pensioner who wants to give up his pension.
What barrier are we talking about? It’s called: cession of the fifth up to 88 years! That’s right: beyond the aforementioned years it will no longer be possible to transfer the share of your pension. Also because it is problematic to find institutions that finance an over-eighty-eight year old (they are few but there are). While outside the hypothesis of the transfer, in theory, we can also finance over one hundred years old. In these cases, it will be up to the pensioner to decide what to do, possibly in concert with his family (and we will also explain why).
Intend to give up your pension just when you are over eighty
Loans to pensioners over 80: things to know! As long as the 81 – 82 years represent the end of the assignment, we say that with the burdens we can reason. If, on the other hand, you intend to give up your pension just when you are over eighty, things change and a lot. It is good to know that, yes, they give the opportunity to sell the share at 83 – 84 years of age or more, but this (the sale) has exorbitant costs linked to the insurance policy which derive from the retired age of the pensioner. Do you think that today there are some procedures for the crime of usury, so high are the costs at the taeg level.
The reason for the very high costs, as the years increase, is linked to the fact that, probably, the pensioner will no longer be alive when the loan ends: in this case, the remaining installments will be paid by the insurance company. What to do, how to finance pensioners over eighty?
A house owned and stacked in a civilian house
Loans to people over 80: three different ways to finance them. All three ways have pros and cons! 1) giving up the pension. Pros: it is a loan that they make even to people over 80, without problems; Cons: as mentioned, it has expensive costs. 2) this second way takes place outside the assignment. Pros: presents the normal charges of a personal loan so it is not an expensive loan; Cons: because of the pensioner’s high number of years, he needs third-party guarantees, possibly a guarantor who is usually one or more of the heirs; 3) the lifetime loan. Pros: no need to transfer the pension, nor guarantees, nor, even less, the payment of installments; Cons: it can be done only if the pensioner has a house owned and stacked in a civilian house and in addition damages the heirs who, after their departure, if they do not pay the bank, lose the house.
At this point, what to do? Well, it is up to the age of 80 with the relatives to opt for one of the proposed solutions. We, for our part, can show you first, the few banks and financial institutions that make loans to people over the age of 80 on loans for pensioners up to 90 years then, in case no. 2, how to provide loans to people over the age of 80 using loans to pensioners without assigning a fifth. While, we advise against in case of nr. 3!