It is hardly a novelty to find problems when trying to apply for pensioners with social pensions , since there are regularly institutions unable to offer, at any interest rate, this funding opportunity. Below, we will see all the information necessary to understand whether it is possible or not, in these cases, to successfully request the granting of micro-credit with installment repayment on the pension.
Let us first look at the differences between the more classic pension and the social pension: while the former refers to the contributions paid during the years of work, the second is obtained by the State in the case of absence of the minimum contributions. Equal to a maximum of € 447.61, this type of pension often involves the non-granting of the loan, due to the low amount received per month.
Loans for pensioners with a social pension are not normally available, especially if reference is made to the classic repayment procedure with the assignment of the fifth monthly installment from the pension. The reason lies in the law in force on the minimum amount of survival, paid by the state by check and impossible to reduce: restrictions that would instead occur with the subtraction of the fifth.
The only alternative route that can be followed is that of the mortgage loan, which can be requested by persons aged 60 and over and with a house owned by them. Following an appraisal, it will be possible to obtain a loan for a value between 20% and 50% of the cost of the apartment .
The balance of debts will occur only after the death of the applicant, without touching the social pension: it will be the heirs who have to repay within a year the amount due to the institution of reference, with the latter that in case of non-compensation will occur of the mortgage on the apartment. In any case, this is a very special form of financing, to be chosen only in case of absolute necessity on the part of those who want to apply for pensioners with a social pension.