Where to apply for equity release

Prêt viager hypothécaire (equity release loan) is available from Crédit Foncier

4 January 2011

LAST year, you wrote an excellent article about the Crédit Foncier’s equity release loan, the prêt viager hypothécaire, so I have a good idea about how it works.

I am interested in knowing more about its availability. Unfortunately I wrote to the bank’s headquarters in Paris asking for information about this, but have received no answer.

Perhaps they only answer via email these days. Can you advise me what to do?

Clifford HEAP
Bassoues, Gers

You should visit the nearest branch of the bank, which in your case is likely to be Tarbes. See tinyurl.com/credit-foncier-branches

We checked with one branch, which said the loan is available from any branch, for residents in France aged 65 or more, who own their own home outright.

If it is shared between spouses, both should be of a suitable age. The loan is at an 8.95 per cent annual interest, and interest and capital are claimed by the bank after the borrower dies.

It would be best to telephone beforehand to check the documents they need. They mainly concern proof of age and home ownership, not matters like your health or finances.

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