Retirement is a time of rest, but, as is known, parents always try to help their children, which is why personal loans for retirees are increasingly requested. The article explains the reasons why retirees are target customers of this type of products, as well as the advantages they have over other public profiles. Finally, the services offered by Gandalf will be exhibited.
Why ask for personal loans for retirees?
You have to take into account something that is often overlooked, and is that a retiree has a fixed income demonstrable and supported by the Administration, which will receive for life. This means that one of the main guarantees that are requested for a loan is covered; we must remember that the equivalent is an indefinite payroll.
On the other hand, we must also bear in mind that, to ask for quick loans , the main concern of the lender is to be able to charge. In addition to this income, many retirees have finished paying their house or have other properties that serve as collateral.
There are several reasons to ask for personal loans for retirees, related to oneself but also to the most loved ones:
At a certain moment, a person may want to buy a new car, a television or, why not, go on vacation. All these expenses can be met but, sometimes, and due to treasury problems, payments must be made that can not be delayed.
Quick credits , then, have the function of facilitating things and not allowing people to stop fulfilling their objective.
Help loved ones
The economic context is unstable and, unfortunately, it is possible that parents have to help their children or grandchildren because they have become unemployed or have to face unavoidable payments. At this point, the fixed income guarantee allows you to face specific problems.
In these cases, quick loans are the solution to solve major problems at a specific moment in the lives of loved ones.
The reforms of the home are necessary every so often and, unfortunately, sometimes they are unpredictable. For this reason, personal loans are necessary, because if you have to fix a leak or cover cracks, you have to do it today, not within a month.
In this way, quick personal credits solve the problem and free the person from cumbersome procedures that are delayed in time.
Characteristics of the loans
The main difference between quick loans and other personal loans is in the speed to get them. When a person has to go and ask for a loan, the entity will require documentation and the operation can take weeks.
On the other hand, and as a result of the recession of 2009, certain financial institutions tightened the conditions for access to credit, so that many people with solvency to face the payments were denied their request.
Parallel to this process, they opened several financial services companies that offered quick credits to people who, otherwise, would not get them.
Loans for retirees
It is important to bear in mind that age is one of the main factors that entities handle when deciding to grant a loan. This is because calculations are made assessing the amount of the benefit that is perceived, the life expectancy and the revaluation of the claims.
In the case of early retirees, they can request the hiring of an insurance or complementary financial product, which also happens, on the other hand, with the workers. In these cases, it must be borne in mind that early retirement means a greater amount than what will be finally received during a certain time.
Retirees less than 75 years old
The best age to apply for a loan, being retired, is between 65 and 74 years because no supplementary guarantee is requested to the pension. In addition, we must bear in mind that life expectancy calculations presuppose that the loan can be repaid without problems. Of course, as long as the repayment period of the loan does not go beyond the time when the person turns 75.
Retirees over 75 years old
Finally, for people over 75 years of age it is possible to ask for a guarantor , usually a family member, but not necessarily. This is due not to a question of income, but to the calculation that the risk department of the company makes linked to the life expectancy of the person, which in Spain is around 80 years for men and 85 for women.
In any case, it is important to indicate that there are two additional elements to consider. Depending on the amount requested, the required guarantees will be lower. In addition, depending on the borrowing entity, the conditions are likely to vary.
How to get the best loan for retirees
Achieving the best market conditions is essential when applying for a loan. The problem is that, if all the entities have to be consulted one by one, precious time will be lost and, probably, we will have difficulties. For this reason, it is good to indicate that comparators are a real and tremendously useful alternative for people who are looking for financing.
The Gandalf comparator service allows you to find all types of quick loans with a margin of up to 5,000 euros with a maximum return period of 36 months. The system allows you to process the information and, in a few minutes, make an offer that the person can face. In this way, the applicant will save having to make comparisons that involve a loss of time and money.
Retirement , then, is not an impediment to access different financing possibilities. It is only about having the necessary documentation and, thanks to the growing number of options, you will find one that suits the characteristics of the demand.