Buying a property later in life, or converting your existing home for older age: many people in Germany face these wishes. Financing in later life has its own rules, though. Many banks are cautious about lending to older people, as they see the repayment risk as higher. BestAger Finanzierung offers specialised solutions for exactly this group and makes possible what conventional banks often turn down.
The group of older people in Germany keeps growing. The so-called Best Agers (people aged 50 or 60 and over) often have substantial equity, a stable income from a pension and clear ideas of how they want to spend later life. At the same time they often run into difficulties with classic property financing, because banks are especially careful with longer terms and standard products do not fit.
BestAger Finanzierung addresses exactly this situation with special solutions. Specialist products and providers have recognised that older people with stable assets and income can be good borrowers when the financing is structured accordingly. That can mean shorter terms or higher repayment rates are agreed, or that alternative security such as existing property is used. Flexibility is the deciding point.
Besides property financing, BestAger Finanzierung covers other financing needs of older people: paying for care services, reverse mortgages (where an existing property is used to release cash) and financing age-appropriate conversion work that lets people live independently in their own home.
BestAger Finanzierung is for people aged 55 and over (for couples, one partner aged 55 is enough) with an owner-occupied property that is paid off, who need financing and are looking for age-appropriate solutions. When looking for the right financing, compare several providers and look at the total cost.
We help you find the right solution for your situation, so you can carry out your plans whatever your age.
BestAger Finanzierung benefits
Property loans from age 55 for owner-occupied properties that are paid off. Loans of up to 40% of market value. The loan amount is not tied to a purpose.
Low monthly instalments, with no repayment if you wish. Long fixed-interest periods (15, 20, 25 years). Up to 50% of the loan can be paid into Allianz ParkDepot. Repayment without penalty on inheritance. Heirs can continue the loan or pay it off.
Uses: age-appropriate conversion, energy-efficient renovation, buying a motorhome, travel, supporting children/grandchildren, care insurance, immediate annuity.
Requirements: minimum age 55 (for couples, one partner), owner-occupied property that is paid off, minimum pension income €800 (per partner)/€1,100 (single people), first-ranking land charge entry.
No loss of ownership rights (unlike a life annuity or partial sale).