Louis is retired. His wife Eva, a young fifties, still working. Louis’s pension is no problem for getting a new home loan. That way they can still replace the roof and windows of their home. At the same time, they optimize their household budget.
Pension is no problem for new home loan
Louis is 69 years old and has been retired since 2002. Eva is a lot younger and still working. She also has a stable income because she has been working at her current employer since 2006. One day they have to replace the roof and windows of their home. A new roof and modern windows also allow them to save on rising energy prices. But where can they go to finance these works? For many lenders, Louis’s retirement age is effectively a problem in allowing a new home loan or loan.
Louis and Eva therefore inquire with a credit intermediary in mortgage credit in their neighborhood. He listens to the story and analyzes their situation. This credit request is realistic and deserves to be analyzed more thoroughly. After compiling the credit file, the credit broker submits the file. A few days later, the file was approved in principle.
Replacing the roof and windows immediately costs a lot of money
Louis and Eva don’t just work. They are preparing the meeting with the credit intermediary and have already requested quotes from numerous contractors. Replacing a roof and windows costs money. They want the best ratio between price and quality. An offer also helps the credit intermediary to draw up a financial plan. This is also an interesting working document for analysts.
Some of the questions from their credit broker
The credit broker can only help them further if he asks a few questions to assess their personal situation. These are some examples of questions:
- “What is the current project? How do you want to finance this? “
- “What is important to you?”
- “To what extent do you have other loans or loans?”
Louis and Eva say that they want to replace their roof and outside windows. They want to avoid worse costs and benefit from energy-friendly quality of the materials. They allow them to save on energy in the long term. Moreover, their home will at least retain its value in this way.
Carry out the work and that everything remains financially sustainable
They just fear that no one wants to follow them because of Louis’s age and income. They think that retirement age and retirement income is a problem.
Finally, they also fear that they will not receive financing because they have other debts. There is their home loan, an installment loan and car financing. For this they pay $ 942 per month. The credit broker takes all these elements into account when drawing up a credit brokerage proposal.
Optimizing the household budget through the regrouping of loans
The credit intermediary works out a proposal whereby he can meet all the needs of Louis and Eva. With his proposal, he can simultaneously optimize the household budget through a regrouping of loans. The existing home loan is combined with the two installment loans and the working budget into one new home loan. The credit application is submitted and approved. The credit file is currently being finalized.
New home loan offers benefits
Louis and Eva are happy with this solution in the form of a new home loan. It offers many benefits and fully meets what they are
- Roof and windows are being replaced with new materials
- Louis and Eva will save on energy costs in the future
- The property retains its value through this investment
- The budget remains under control – the monthly payment falls from $ 942 to $ 770
- The end date of the new home loan is earlier than the end date of the old home loan
- Louis and Eva can also enjoy living taxation
- New home loan is at 10 years with a fixed interest rate
Are you retired and looking for a credit solution?
Are you retired and looking for a credit solution? We might be able to help you. Complete this form and tell more about your situation. In this way we can put you in contact with a credit intermediary in mortgage credit from your region.