Normally everyone should be proud of having reached retirement age after a long working life so that they can now enjoy well-deserved retirement. But sometimes you cannot enjoy this well-deserved retirement. Because some things that were still completely normal during working hours and that could be started without major problems are no longer so easy to handle.
This is particularly evident in the area of financing. If you wanted to afford something small or large in the past, you could simply take out a loan. Such loan requests are no longer so easy to realize as pensioners. Even a loan for pensioners aged 65 and over must be looked for properly.
The house bank is usually of little interest
If you, as a pensioner, hesitantly inquire at the house bank whether a loan for pensioners aged 65 and over would be possible, then this usually weighs you down and shows little interest in financing. In most cases, the pension income seems too low and the applicant’s age too high. Although nowadays you are by no means old at 65 and you can easily live for 20 or more years.
In this connection, the fact that many people have remained loyal to their house bank for many years is particularly bitter. The hard-earned money was stored there and increased. And then the bank has no interest in a loan, even though they have known each other for so long and have worked together.
Take out a loan for pensioners over 65
But there is another way. With a little help from the family, you can also take out a loan for pensioners over 65. And sometimes even at the house bank. If you offer a guarantor who is significantly younger than the applicant, the bank will be happy to take this as a security and is again much more open to a loan. A guarantor has to assume responsibility for the loan if the actual borrower can no longer do this.
It is important in this context that the guarantor has a high income and that the loan amount is not overestimated. As a pensioner, you should not want to take out a loan of over 200,000 USD with a term of 30 years. The age of the borrower and the term do not match and no bank – not even a young guarantor – would approve a loan in such a constellation.