In spite of a good income situation, seniors have to reject the loan. Nevertheless, there is enough investment that makes senior loans necessary.
Credit for 80 year olds – good reasons
There are good reasons to look for a loan for 80 year olds. Seniors face special challenges in old age. Life can no longer be compared to the standards and demands of youth or middle age. The buttons on the remote control of the TV are too small. The beloved TV armchair can no longer be brought into a comfortable position on its own. External help is becoming increasingly necessary, unless the technical circumstances can be adapted.
The bedroom on the first floor remains accessible by a stairlift. The TV armchair is exchanged for a modern massage armchair that performs all functions at the push of a button. In addition, at the age of 80, it is not a mistake to have bathroom equipment suitable for the disabled. So the private village remains a really private area for a long time.
Offers for seniors meanwhile offer industry and trade for every age-related problem. You can buy as long as the savings last. The loan for 80 year olds can hardly be found, despite the great need.
Senior loans – credit versus age limit
The loan requirement is undeniable for seniors. It becomes problematic with the implementation of the loan request. Seniors traditionally only trust their local provider. He has already financed the small house and also approved other loan requests. The path of an 80 year old to his bank is usually a lot of effort. Local providers strictly adhere to the old age limits for lending, which are no longer up-to-date. They fear the borrower’s death before the loan is repaid.
A residual debt insurance (RSV) should actually cover the risk. Unfortunately, these insurance policies are very expensive in old age. In addition, whether senseless or not, the in-house regulations do not necessarily allow the loan despite the RSV. A paradoxical situation arises. credit bureau says senior credit is the safest loan ever. About 99 percent of all approved loans are repaid without any problems, but this loan is practically non-existent at the house bank.
Possible solutions for the credit needs of an 80 year old
The possible help in finding loans for elderly seniors can come from the Internet. There are not many direct providers for senior loans in old age. Lite lender is one of the few providers that do not set an age limit for lending. Another option would be to ask a loan broker for help. The offers of a former bank employee sound particularly interesting. Even in his senior years, he specialized in loan brokerage without age limits.
Personal loans from the two major portals are also not tied to age limits. Private investors are free to choose which loan projects to invest in. For all remaining offers, the financing costs should be viewed critically. Residual debt insurance can become almost unaffordable in old age.
The easiest and cheapest way is to help the heir generation. You are still fully creditworthy and get the best interest rates. The “representative” loan for 80 year olds is not only easy to find by the younger generation, but is usually significantly cheaper.