Category Archives: Loans

Who can take out a mortgage life loan?

Real estate loans granted to owners of real estate, the subscription of the mortgage life loan is subject to very few constraints. These advantageous conditions allow the most modest and the most fragile to access a form of loan to carry out some personal projects.

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  1. Minimum age to take out a mortgage life loan
  2. Be a homeowner to take out a mortgage life loan
  3. Obligations of the borrower when subscribing a mortgage life loan
  4. No financial constraints to take out a mortgage life loan

Minimum age to take out a mortgage life loan

mortgage loan

Officially, according to the Consumer Code, the subscription of a mortgage life loan is not subject to any age requirement ; no minimum age and no maximum age. In fact, banks with this type of product in their catalogs only present them to senior owners aged 65 and over.

And unlike most credits, mortgage life mortgage terms do not require a health questionnaire.

Be a homeowner to take out a mortgage life loan

The subscription of the mortgage life loan is an indispensable and inevitable condition: to own a property . It is indeed this good that the future borrower puts in guarantee in order to receive a capital, in a single time or in the form of rent, in order to realize a personal project.

Obligations of the borrower when subscribing a mortgage life loan

mortgage loan

To take out a mortgage life loan, the borrower must submit to several legal obligations in order to validate the loan agreement. Thus, the latter must let his property appraised by an expert chosen by him, as well as those of the lender.

It should be noted that this expertise is entirely at the financial expense of the owner of the property. In addition, the borrower must have a bank account domiciled in France so that the bank can have access to funds in case of problems with the owner.

Subscription to a mortgage life loan is also reserved for natural persons , excluding associations or SCI .

No financial constraints to take out a mortgage life loan

mortgage life loan

There is no mandatory financial profile for taking out a mortgage life loan.

This type of loan is usually reserved for people with rather modest resources, there are no bans at this level.

Employed or retired, the terms of the mortgage life loan do not impose a professional profile either . Prospective borrowers can discuss the advantages and disadvantages of this type of loan with a financial advisor who will guide them according to their profile. Thus, in the case of attractive income, the borrower can lift the mortgage of his property earlier than expected by making partial or total prepayments.