Where are the rejections going? Home loan for retirees, you see old, loyal (only loving) dukes. Credit for retirees – why there is more again. The value adjustments can also be used to repay an existing construction loan.
Due to the rigid implementation of an EU directive in Germany, older people have little chance of getting a building loan.
The elderly are still excluded from real estate loans
Friedrich Thiele, Chairman of Deutsche Leibbrenten (photo) demands that the regulation that has been in force since March must be changed so that pensioners can also get a real estate loan again. “In theory, this can help older people,” says Thiele. Because there is practically no sales market for such loans in Germany. ”As a result, the senior citizen was excluded from the building loan with a few exceptional cases.
The “planned regulations on the real estate loan” are also required by Good Finance. Because: “The government bill passed today for a Supplementary Financial Supervision Act does not yet eliminate all legal uncertainties identified”.
Property is not just for small buyers
As a rule, credit institutions are not worried about older people. The focus is on the type of construction and the creditworthiness of the client. “Both the bank and the client have to make sure that the monthly expenses for the loan are affordable in the long term. However, this applies to all consumers, not just the older ones. “- Customers have a view of Hartmut Schwarz from the Bremen consumer office? in older age also preferences over the younger ones.
“In contrast to young buyers, they don’t have time for this,” says Schwarz. “The loan should be paid until retirement or only a manageable residual debt should be possible. “Some banks have set a maximum age, for example, 65 to 75 years,” explains Schwarz. “Otherwise, only part of the property’s value will be financed or a higher repayment will be required.
In some cases, however, credit institutions require that children of building owners be asked to join the contract.
In order for a construction loan to be launched, older people have to check their private financial circumstances very carefully. “Building owners whose financing extends into retirement age must submit their pension reports or forecasts to the house bank.