United Kingdom

Making ends meet is one of the biggest challenges that should be front after reaching retirement, to such an extent, that 73% of retirees living virtually a day, without any saving capacity. This aspect confronted with data in favour of the elderly of 65 years; and 82% of them is his landlord. Turn our House into a source of income is an easy task if you know the different possibilities offered by the market. Income lifetime on a property is the newest formula and which can bring major advantages to older persons. Annuity, strongly rooted in countries like Germany, France or United Kingdom, is a contract by which an elderly person receives a monthly income for the rest of his life, in exchange for the cession of their housing, while maintaining at all times the right of use and enjoyment of the same. It is the ideal solution for those wishing to live as best as possible with their own economic means through an adequate management of its real estate assets, and all this, without losing the reference posed to continue living in your home.

In addition, the annuity may also be the best way to finance the stay in a residence or Senior Center, since, if they so wish, the elderly can resign, since the start of the operation either elapsed time, to the right of usufruct over their housing, what affects a considerable increase in income to receive monthly, allowing you to afford the payment of residence that you choose and with the tranquility that provides knowledge that these monthly income are guaranteed of lifetime. The reverse mortgage reverse mortgage is a bank credit led to the elderly owners of a property. It works in reverse to the mortgage loan for which buying a home by instalments. In the case of the reverse mortgage the property owner receives a monthly income that would be equivalent to the sum obtained after the sale of the property. Hiring a reverse mortgage, the older person, you can monetize your home receiving one monthly pension and can maintain the right of use and enjoyment of your home. However it has a relevant drawback; It is an operation without lifetime coverage. If the older person survives the engagement of the mortgage and the operation period, therefore, ends, the older person has no guaranteed the payment of pensions. Before such a risk, the recruitment of insurance that guarantees lifetime coverage is suitable.

In such a way and in such a case, the insurance company would pay monthly pensions to the owner until his death. Monthly rents depend on two factors, on the one hand, the value on the tase housing and, on the other hand, the age of the holder, which shall be at least 65 years. Sets an amount for monthly fees that will be paid by the beneficiary, that the management expenses are subtracted.