One of the financial products that generates the most doubts and questions are loans for pensioners. This group of people has particular characteristics that, in themselves, make it not well considered by traditional banks.
Can I get financing if I am retired or if I do not have an employment contract? These are some of the questions that lie in wait for this type of user. That is why in this week’s article we want to talk about loans for pensioners and their special characteristics.
What are pensioner loans?
Let’s start at the beginning: pensioner loans are intended for those who collect a pension. This means that they are not only for retirees, but for all those who collect a pension, even if it is for disability or disability.
In our country there are several types of pensions: for retirement, permanent disability or death. The latter includes the widowhood or orphanage pensions that the family of the deceased would receive. It should also be taken into account that there are contributory and non-contributory pensions. The latter are granted to people who do not have sufficient resources to survive and are in a vulnerable situation. They can be accessed even if it has never been quoted or has not been done for a sufficient period of time. Non-contributory pensions can be for disability or retirement.
What should be considered when requesting loans for retirees and pensioners?
At the time of wanting to apply for loans for retirees and pensioners, we must take into account the type of pension being charged. The requirements will not be the same if the amount charged is for a retirement or disability.
In the case of loans for retirees, the lender will take into account the age of the applicant, both at the time of requesting the loan and at the time it is returned in full. In the case of disability pension loans, we will only be able to access financing if we are empowered to make financial decisions. Otherwise, it will be the legal guardians who must request that loan.
In addition, in the same way that happens with payroll, all traditional banks will take into account the amount of the pension to determine the amount of money that the applicant can access. In this case, pensioners are luckier than most workers: they have extra payments that will always be welcomed by banks.
Why apply for loans for pensioners?
Applying for loans for pensioners is the order of the day in our country. In our country there are a large number of families whose only source of income is a pension. Many pensioners have seen their purchasing power decline during the crisis, as pensions were frozen at the time, and then their increases have not been proportional to annual inflation. That is why many times these income are insufficient to reach the end of the month, especially if something unforeseen arises.
For this same reason, many of these users resort to loans for pensioners and thus have access to the liquidity they need at that time. Although it is true that most banks place limitations on age and amounts, there are more and more financing possibilities for pensioners in the financial market. Private equity financiers can be an excellent option to apply for loans for pensioners.
Requirements to access personal loans for retirees
With most banks or credit institutions, the requirements to access personal loans for retirees are the same as for any other client. In the case of loans for retirees, in addition, the age of the applicant will be taken into account.
Another requirement that the bank will take into account is the solvency of the pensioner. This will be calculated based on the amount of the pension you receive, your level of indebtedness at the time of requesting the loan and your credit history. In this article we detail how to request a loan.
We can afford to be much more flexible with these requirements, since our financing works with a mortgage guarantee. The essential requirement to access our mortgage loans for retirees is to present a property in property with no pending charges or with little pending mortgage to be able to cancel it. So we can offer our pensioner loans to many more people, even if they are included in delinquent lists. In this article we already talked about how to get loans for pensioners with asnef.