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As a pensioner can you take loan from the mortgage?

Banks are smart , they don't do things that will not benefit them, they study your income, they study your property, they look at what are the means you can use to payback your loan, if there are no means they will never loan you their money, they consider your, every one belief a retiree can't work or pay loan back, let me add it a retiree is even closer to death the type of loan that would be given to him will be considered as well. That's how it is in my local country.
Lol, a retiree that is just 64 years old, is it closer to death?? With good and sound health i believe that such age is still premature to death. Death kills anyone irrespective of age, even the person at 99 can still live on for 20 years. Then the one still young will just succumb to premature death. They should borrow civil retirees that have what it takes to pay back loan to them.
 
Advance choices are restricted for beneficiaries or retired folks as it's difficult to demonstrate to a loan specialist you can make the reimbursements when you don't have a customary pay and are living from annuity check to benefits check, which simply covers every day costs.
 
Lol, a retiree that is just 64 years old, is it closer to death?? With good and sound health i believe that such age is still premature to death. Death kills anyone irrespective of age, even the person at 99 can still live on for 20 years. Then the one still young will just succumb to premature death. They should borrow civil retirees that have what it takes to pay back loan to them.
Yeah, I agree with what you say , they should pay civil retirees who has the capacity to pay, that's a great idea, but in my local country let me be straight with you if you don't have connections you will never be given loan, most times for a retiree to have access to his pension it use to be a fruitless effort, there is no effective plan for retiree, but after retirement you still see, old be people after retirement still struggling to make ends meet. It's very bad here.
 
It will be off-base for a retired person to gather advance they as of now have a bundle like credit which is there tip.

They are paid mass cash that will empower them put resources into any undertaking or business of their sort. Banks would prefer not to lose cash since they realized that retired people are obligated to kick the bucket with their cash haha.
 
It will be very wrong for a pensioner to collect loan they already have a package like loan which is there gratuity.
They are paid bulk money that will enable them invest in any project or business of their type. Banks don't want to lose money because they knew that pensioners are liable to die with their money lol.
Many retirees believe that since they no longer earn a pension, they should not take out a loan for a car, a house, or an emergency. In fact, although qualifying to borrow in retirement may be more difficult, it is far from impossible. In general, according to most experts, one thing to avoid is borrowing from retirement accounts.
 
Your dad is no longer working that's why he was refused the loan
I know a public servant who was still working and he was granted a loan from the mortgage, I believe they also think your father pension will be enough for him
 
Many retirees believe that since they no longer earn a pension, they should not take out a loan for a car, a house, or an emergency. In fact, although qualifying to borrow in retirement may be more difficult, it is far from impossible. In general, according to most experts, one thing to avoid is borrowing from retirement accounts.
It is not good to borrow from a retirement account, retirees are not supposed to use buy something that will not benefit them in the future. What pensioners need to do is to invest their money in a profitable business not just lavish their money carelessly.
 
Yes, as a pensioner you can be able to apply for mortgage loan, this is because you are just like a person who is also receiving salary and you can be able to pay for the mortgage instalmentaly,. However you must consider your pension before you go for a mortgage loan.
 
Lol, a retiree that is just 64 years old, is it closer to death?? With good and sound health i believe that such age is still premature to death. Death kills anyone irrespective of age, even the person at 99 can still live on for 20 years. Then the one still young will just succumb to premature death. They should borrow civil retirees that have what it takes to pay back loan to them.
You spoke intelligently @Sincerem regardless of age, financial institutions should approve credit applications regardless of age, as no one is safe from death. If the retired person meets all the requirements to apply for the loan, there is no reason why the application should not be approved.
 
As a pensioner it will be difficult to be given a mortgage loan to build house. Mortgage bank is an organization out there to make profit so recovery back of money they gave out to pensioner will be difficult as the bank will not be able to access the income of the pensioner.
 
You spoke intelligently @Sincerem regardless of age, financial institutions should approve credit applications regardless of age, as no one is safe from death. If the retired person meets all the requirements to apply for the loan, there is no reason why the application should not be approved.
You spoke reasonably @Sariana23. I don't see any reason why they have to withheld a retiree based on his age. That's not normal, death is inevitable, no one is above it. It can come to even infants, so why must financial institutions, access peoples age before approval loan? That's not normal. They should restrain from such indifferent attitude and act wisely.
 
An establishment that pays pension upon retirement of their ex-employees, stops immediately the employees are dead, so mortgages find it difficult to give out loans to pensioners as the pension funds can't cover for the loans, accept their is different collateral to be used.
 
I think it depends on the bank you wish to borrow or get a mortgage from, most banks should grant a retired pensioner a loan so far he has an asset and he still received a money occasionally either through pension or other means.
 
Am not the type that love taking loan and even if I will have to take a loan then it should be for investment. But if the terms and conditions for the mortgage bank loan is far
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Am not the type that love taking loan and even if I will have to take a loan then it should be for investment. But if the terms and conditions for the mortgage bank loan is fair enough I might consider it and give it a try.
 
I think it depends on the bank you wish to borrow or get a mortgage from, most banks should grant a retired pensioner a loan so far he has an asset and he still received a money occasionally either through pension or other means.
Exactly, they should grant such retire loan, as long as the retiree meets the terms and conditions regardless of age. That happened to my dad that is 65, he tried borrowing from the mortgage to start up little home business, they bank didn't grant him such. They pointed out to his age, the low earnings he is receiving at the moment is the reason for the loan decline. But my father have collateral to pay back if the repayment term exceeds.
 
Exactly, they should grant such retire loan, as long as the retiree meets the terms and conditions regardless of age. That happened to my dad that is 65, he tried borrowing from the mortgage to start up little home business, they bank didn't grant him such. They pointed out to his age, the low earnings he is receiving at the moment is the reason for the loan decline. But my father have collateral to pay back if the repayment term exceeds.
One of the reasons some mortgage would decline a loan is because of low income. Mortgage banks believe that the higher the cash flow income, the higher the possibility of the borrower paying back the loan irrespective of the collateral.
 
You spoke reasonably @Sariana23. I don't see any reason why they have to withheld a retiree based on his age. That's not normal, death is inevitable, no one is above it. It can come to even infants, so why must financial institutions, access peoples age before approval loan? That's not normal. They should restrain from such indifferent attitude and act wisely.
I am in total agreement with you. Because let's suppose a jovial person applies for the loan and dies, what do the financial entities do? for that they ask for guarantees or sureties that commit to pay the debt in case the applicant is unable to comply with the payments. The same can be applied to retired people.
 
One of the reasons some mortgage would decline a loan is because of low income. Mortgage banks believe that the higher the cash flow income, the higher the possibility of the borrower paying back the loan irrespective of the collateral.
The funds my dad asked for, isn't all that above his monthly salary for six months. He asked to borrow $650 from the mortgage. Then inform the mortgage to be charging him monthly 30% of his salary to pay back the loan gradually. If you check the 30% charges, its up to $150 every month. So within the space of six months he'll pay them all, with interest. He still have collateral for that, incase the loan term agreement isn't reached on time.
 
The simple answer is, yes: you can get a mortgage even if you're retired and receiving a government pension. You may also be able to qualify if you're receiving a disability or carer's pension. To do so, you just need to apply through a lender like any other potential borrower.
 
I am in total agreement with you. Because let's suppose a jovial person applies for the loan and dies, what do the financial entities do? for that they ask for guarantees or sureties that commit to pay the debt in case the applicant is unable to comply with the payments. The same can be applied to retired people.
You're right. When we know death comes unexpectedly. Even the young often die before the old, but i don't pray for that. Such rules shouldn't be outlined for the mortgage regarding old people taking loans. As long as that person has a surety that will take responsibly if the person taking the loan is nowhere to be found. But irrespective of that, loan should be given to anyone who is fit enough, and meet up with some reasonable requirements. And not given out conditions that doesn't worth it at all.
 

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