Reverse Mortgage
With Caser Reverse Mortgage You will receive a payment with regular monthly provisions and the possibility of a single payment at the time of incorporation.
In addition, you will retain ownership and usufruct of the house and you will not have to repay the mortgage during your lifetime if you so decide.
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What is the Reverse Mortgage?
The reverse mortgage is a type of mortgage loan aimed at people over 65 who own a home. Contrary to conventional mortgages, it is the owner who receives a monthly amount from the Insurance Entity in exchange for the home, an amount that will be charged over a very long period of time that significantly exceeds their life expectancy. In addition to not losing ownership of his home, he will be able to continue using it until his death.
In addition, we offer the option of contracting specific assistance services for the elderly.
If you want to know more information about this modality, visit our article where you will know all about the reverse mortgage.
Reverse Mortgage Modalities
In all of the options, it is possible to receive an advance of capital (to be agreed).
Single payment
Receives all in a single payment at the beginning
Monthly rent
Receive payment monthly.
Mixed Payment
Or, in combination, with an initial provision plus monthly payments.
Reverse Mortgage Calculator
With the Caser – Mas Vida calculator you can calculate the monthly payment that corresponds to you.
To do this, you simply have to enter the age of the user(s), the market value of the property, and the initial disposition, if any.
Steps to Follow to Get a Reverse Mortgage
Requirements
To carry out this type of operations, only two requirements are needed:
1. Having 65 years or more.
2. Be owner of a property.
3. The home must be declared as habitual residence.
Formalization process
1. We meet with the interested party to learn about their preferences and specific needs.
2. We consult different wealth liquidation products and present several reverse mortgage proposals.
3. The official appraisal is carried out through an independent appraiser approved by the Bank of Spain and the National Securities Market Commission.
4. A binding offer (final proposal) is issued by the entity.
5. The operation is formalized before a notary and the amount of the reverse mortgage is received.
The Advantages of the Reverse Mortgage
Cost Reduction
The user will only have to bear the costs of the official appraisal prior to granting the reverse mortgage and the costs of the independent advisor. The rest of the associated expenses will be included in the amount of the loan itself (opening commission, notary, property registry, etc.).
There are no Amortization Fees
The user can repay the loan in life if they wish or after their death.
In the latter case, the heirs will be responsible for settling the accumulated debt. within a period of 12 months following the death of the last of the owners. This debt will be equal to the sum of the provisions plus interest.
Remain as Owner
The user remains the owner of the home.
Not Taxed
The amount received is not subject to any taxation.
You do not lose the inheritance of the home
Your children can keep the property if they choose.
Mortgage Settlement
In addition, the user will be able to take out the reverse mortgage to settle a mortgage that is in force.
We Offer You a Totally Free Study
We carry out a study and valuation of your property completely free of charge. After closing the operation before a notary, you can use the amount received as you prefer.
Enjoy financial freedom!
Learn about Real Cases of Our Clients
Learn about the experiences of those who have transformed their financial lives with Mas Vida. With many years of experience in the sector and hundreds of satisfied clients, you can totally trust us.
Operations carried out throughout Spain
Portfolio investors
%
Increase in operations this year
FAQs
Can a Reverse Mortgage be contracted to cancel another previously existing one?
Yes.
How is the loan that has been received repaid?
The user can repay the loan in life if they wish or after their death. In the latter case, the heirs will be responsible for settling the accumulated debt. within a period of 12 months following the death of the last of the owners. This debt will be equal to the sum of the provisions plus interest.
What expenses does the user have to formalize the reverse mortgage?
The user will have to assume the following expenses prior to the granting of the reverse mortgage: the amount of the official appraisal on the property and the costs of the independent advisor.
What does the entity charge for granting the reverse mortgage?
The entity charges a lifetime annual interest rate for the amount borrowed. This is accumulated annually to the amount of the debt. This amount is fixed in the constitution and does not change.
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Receive a Free Assessment
Ready to take the first step towards a worry-free financial life? Contact us today. Our expert team is here to answer your questions and guide you on the path to a better life.