When you retire or approach retirement, it is important to manage the drop in income following the cessation of your professional activity. The repurchase of senior credit, thanks to adapted solutions, makes it possible to regroup its loans and to reduce its monthly payments. Discover our offers to buy back credits for seniors and retirees.
With Good Finance, the maximum loan start age for a consumer loan buy-back is 80 years! And the maximum end of loan age for a mortgage loan consolidation is 95 years! For example, if you are 60 years old, we can offer you loan repurchase solutions for a maximum of 35 years, up to 95 years: it’s as simple as that.
Purchase of credits for retirees or seniors
The loan buy-back is also suitable for people who are retiring or who are already in retirement. Since your income is falling, you must reduce the monthly payments on your loans by extending the duration of your repayment in order to facilitate your retirement.
When we make a grouping of credits we have more than a single loan, this allows you to simplify your life, but above all to recover purchasing power.
We take into account the income you receive at retirement, the total amount of your loans, your current debt ratio and we offer you a new term for your credit repurchase with monthly payments adapted to your income. The redemption of your mortgage or your car loan is not compulsory. It depends on your new debt ratio and your remaining living.
Up to what age can you have your credits grouped when you are in retirement?
Credit in retirement is not easy to obtain. Your bank does not want or can not intervene on a repurchase of consumer credits or on a repurchase of mortgage credit, because the principal borrower is too old at the start of the loan, or in relation to the insurance of your loan, or for any other reason, then contact Good Finance we are the agent for intermediaries in banking operations, specializing in the repurchase of credit for retirees. We operate throughout France as well as in Paris.
Your age is not blocking, we intervene up to 85 years for owners and tenants and up to 95 years for owners only. You are not insurable, no problem, insurance is optional. We are also a loan insurance broker.
The duration of a credit repurchase for retirees
The duration of a repurchase of credit for senior varies according to the incomes, the total amount of the grouping of credits, the age of the borrower and the co-borrower. It also depends on your personal situation whether you are a tenant or an owner. Either it is a redemption of consumer loans, or it is with a mortgage guarantee taken on the property. The extension of the duration of the loan reduces the repayment of monthly payments.
The minimum duration of a loan repurchase is 3 years and the maximum duration is 15 years if you are an owner, or 12 years if you are a tenant. The age at the end of the loan is 85 years maximum. The name given to this operation is a buyout of consumer credit.
- Example for a retired owner: if you are under 70 at the start of the loan, you can benefit from a loan buy-back over a period of 15 years. You will be 85 at the end of the loan. If you are a maximum of 80 years old, you can make a senior loan over 5 years.
With a mortgage guarantee, the minimum loan term is 5 years and with a maximum of 35 years. The loan termination age will be 95 years. We will call it this: a buyout of consumer credit with a mortgage guarantee taken on your property, or a buyout of a mortgage.
- For example for a senior owner only: if you are 60 years old at the start of the loan, you can buy back credit for over 35 years. You will, therefore, be 95 at the end of the loan. Rest assured you can at any time sell your property and therefore make an early repayment of your credit.
A group of senior loans to benefit from retirement
With life expectancy increasing every year, retirement can now be a great liberation offering many opportunities. Before any project, you need to check your repayment capacity. Retirement is a new start for seniors, rid of their commitments. However, this requires sufficient purchasing power.
- You want to travel or to offer leisure activities, Good Finance can make a credit grouping in order to decrease your monthly payments and bring you the necessary cash to finance your projects.
- You have arrangements or work to do in your house, but you already have a personal loan which made it possible to finance your car and you also have consumer credits which financed the studies of your children, the amount of your monthly payments are too high, so is your debt ratio. So think about grouping a loan for retirees.
- Your child announces that he wants to marry and you want to offer him his marriage, but you have no liquidity and the term of repayment of your home loan only ends in five years and you have already made other redemption of credits; no problem with this second grouping of credits for seniors you can also finance your daughter’s wedding.