Monthly Archives: August 2019

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Tips for borrowing well after 50 years

With borrowing rates still attractive, all categories of borrowers are interested. Among them, many seniors want to plan to finance a real estate purchase. But it can be difficult to borrow after age 50, just as when there is an increased health risk. Indeed, loan insurance represents a barrier to their accessibility to the property.

How to borrow after the age of 50

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Even after the age of 50, it is possible to benefit from a mortgage on favorable terms because the average loan rate over a 15-year repayment period is currently 1.35%.

If you are a senior and already have wealth, banks can generally be more enthusiastic about unlocking solicited funds for you than for a young borrower starting their career or without a CDI.

It should be noted that the over-50s account for nearly 15% of the total number of applications for mortgage loans and broker insurance.

However, the situation may be more complex for people over the age of 60, because of their retirement, usually involving a decline in income.

In order to compensate for this, some banks may offer “tiered” loans, characterized by greater repayment before retirement, and then with reduced maturities after retirement.

Other banks may agree to postpone some monthly payments or to reduce them downward in order to adapt well to the resources of the borrower.

Loan insurance: a brake for seniors?

Loan insurance: a brake for seniors?

The main brake on access to loans for over 50s is the borrower insurance. For insurance companies, age increases the risk of health problems and death, which significantly increases the cost of insurance. It is generally a question of the application of surcharges following the answers given in the health questionnaire and additional examinations revealing health problems.

Also, the death guarantee is no longer effective after the age of 75 years. And it is most often after the age of 65 that disability and disability benefits no longer apply.

Use the delegation of insurance to access the loan in the best conditions

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By choosing to resort to the insurance delegation, ie by taking the time to play the competition between the insurers and the group insurance contract presented by the bank, in order to take out individual insurance with an external insurer, it is possible to save money and/or obtain an extension of the guarantees.

Some insurance companies may indeed agree to cover risks that are excluded from group insurance contracts or may even offer to extend the coverage of the death guarantee at the age of 90.

Finally, know that from January 1, 2018, borrowers will have the opportunity to terminate their loan insurance contract on each anniversary date of subscription.

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Borrow after 60 years

It is quite possible to borrow after 60 years. Some banks also offer senior-style, specially designed mortgage lending packages. Learn how to borrow after age 60

Ready for consumption: few obstacles

For any small loan, and for a short period of time, the auto loan, personal loans, and other permanent loans are generally granted to borrowers 60 years of age or older without any problem. For this type of credit, loan insurance is not necessarily imposed, especially if the amount of the loan is low compared to the assets available to the borrower. But in the case of a mortgage, things can get complicated.

Real estate credit: the importance of your personal situation

Real estate credit: the importance of your personal situation

Today, banks and insurance companies take into consideration the extension of the life span. They tend to accept mortgages more readily, both before and after retirement and have pushed the age limit for access to their group insurance contract (group insurance), which covers death, accidents, and disease. However, obtaining a mortgage and the rate granted depends on your situation (resources, expenses, personal contribution, assets, etc.). In case you are not yet retired, the loss of your income will be taken into account by the lending institution. But some financial organizations offer a step-by-step reimbursement: the monthly payments are more important as long as you work and are lightened from the age of retirement.

Loan insurance: to study closely

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In order to borrow, it is generally necessary to take out insurance as a guarantee. But the older you are, the higher the cost of loan insurance. Up to age 65, you may be able to take advantage of the group insurance of your bank, but the rate will be increased. You should also know that their coverage does not generally extend beyond 70 years. If the terms of this bank insurance contract do not suit you because it does not match your profile or it is too expensive, know that you can take out an insurance contract individual, as part of the insurance delegation, to the insurance company of your choice. This way you can find very competitive contracts. Do not hesitate to take a close look at the proposed conditions, play against the competition and try to negotiate: is it necessary to guarantee incapacity for work or unemployment? Is it possible to cancel the prepayment penalties? …

Your health is not a brake

From the age of 45, banks and insurance companies look very closely at the state of health of borrowers. Any significant health problem, called aggravated health risk, can prevent you from accessing the bank’s group insurance policy. However, the Aeras convention intervenes so that a solution can be found.

Alternative guarantees?

The financial institution may also exempt you from taking out loan insurance in the event that you are able to provide another guarantee: the pledge of a life insurance policy or a savings account, the surety, Mortgage … Regardless of the age, you have, your situation or the type of loan you want, you are advised to take the time to compete between organizations based on the Effective Rate. Global) including all fees.

Borrow after 60 years, it is possible! By using a broker, you will save a lot of time and reduce your expenses.

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Guobank – reviews and review of payday loans

Guobank is the trade name of QualityCash, a large number of companies providing loans beyond their leading brands are introducing more brands acting on behalf of the same company and granting payday loans with its money. Often the offer and all conditions for taking out payday loans are the same, and sometimes these companies introduce competitive terms. Loan companies are doing so to reach new clients discouraged by the brand or to attract their clients for another loan. Also, the likelihood that an accidental customer will come across one of two loan brands is greater.

The advantages of Guobank are quick response and verificationl

Guobank – offer like in QualityCash

Guobank - offer like in QualityCash

At Guobank, the offer is identical to QualityCash. The amount of the first loan is up to PLN 500, and the next loan up to PLN 3,000. The loan can be taken by anyone over 18 years old who has a mobile phone and is a Polish citizen. The loan can be granted for 15 or 30 days, if it is not repaid, it can be extended for the same period. The cost of the loan is quite expensive compared to the competition, an example loan for PLN 1,000 will cost us PLN 320, and the Annual Real Interest Rate will be 2,830.70%. The undoubted advantage of payday loans in Guobank is quick response and verification. The Customer Service Office is open from Monday to Friday from 8:00 to 18:00.

We usually get a loan going through 4 stages :

1) Registration through our portal
2) Data verification by sending 1 penny
3) Cash withdrawal to a bank account
4) Signing the contract sent to the indicated address

Guobank – framework loan agreement

Guobank - framework loan agreement

Guobank also sends a framework loan agreement to the mailing address provided, it is not obligatory to receive payday pay, because we will get the money or refusal much earlier. Signing the contract gives us greater credibility in the eyes of the company, and hence, subsequent loans over the internet for larger amounts and on better terms. The letter comes with a prepaid return envelope, so it’s worth signing and sending back.