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Credit Foncier de France,Pret Viager Hypothecaire


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The basic idea of this was to help older generations or handicapped people to get extra money for their pension, by using their house or flat to finance it.

For these categories, and that includes those who have have grave illnesses, even if they are 100% recovered, it is practically not possible to get a estate loan because of the obligatory insurance question, if you have no equivalent other type of collaterals.

Now what was a good idea, finished as a " dead duck " ( only 2 banks offer these, and the 1st one came up nearly one year after the law had been passed, which gives an appreciation of their expectancy of the possibilities ) , because with the law, if the State said A , but did not say B.

And that means giving a general scheme concerning the percentages which could be loaned, and also the rates of interest.

So the conditions are limited, and the interest rates are dear, against housing loans, and probably should only be counselled in last resort.

A comparison to a "vente en viager" should certainly be made, although here, your heirs can not get the object back.



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