extending the mortgage to 90 yearsIt’s a mortgage to only prolong the payment period until the client is 90 years old

The alternative of extending the life of a loan is not new. In fact, part of a trend that has developed rapidly in recent years under three factors: increased life expectancy (which varies in 80.9 years, according to INE), increased the unemployment rate (exceeding 20%) and the ever-increasing indebtedness of households, so hard to pay dues on time, especially when they are high.

Monitoring data from the Family Funding Agency Negotiator Banking Products are clear. Three out of four people or families with a mortgage spent more than 40% of their monthly income to financial payments, and one in five has had to delay payment of fees at least once in the last 12 months.

In this context, the possibility of extending the repayment period to reduce monthly spending is received as a breath of fresh air. In the extension of deadlines, mortgages for people up to 60 or 65 were the first step. Then, the periods were extended to 70. Until recent months, this was the maximum age to go into debt, a limit that has changed again with the launch of the alternative of 90 years.

Do you glimpsed a new one? War mortgages? national credit market? Apparently not. Just trying to raise awareness among the users a new way of access to home ownership with the hiring of credits that are similar to those called? Mortgages inherited? marketed in the countries of Anglo-Saxon area and Japan, where it is common for these loans move to the next generation.

credit to: Laura Caorsi

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