When Your Bank Says You Are Too Old: How a Broker Can Help

A French credit broker, known legally as an IOBSP (intermediary in banking operations and payment services), takes your loan request to several banks and negotiates rate, term, security and insurance on your behalf. After 65 the benefit is tangible: a good broker knows which lenders still accept a final repayment at 80 or 85, something your own branch adviser is often unaware of.

Lending to the over-65s is a narrow market. Each bank sets its own age ceiling, deposit expectations and insurance policy, and keeps them unpublished. A broker who places retirees' files every month knows those internal grids. Approval is never guaranteed, but you avoid the string of refusals that wears you down and leaves a trail of credit checks behind it.

What a broker really adds once you are past 65

The first contribution is selection: sending the file to the three or four lenders likely to say yes rather than to fifteen. The second is structuring: a short term, a bigger deposit, a mortgage or a pledge of savings as security, insurance cover split between spouses. The third is negotiating outside borrower insurance (délégation), which is frequently the item that makes or breaks a senior's application.

Legal status and duties

A broker must be listed on the ORIAS register as a banking intermediary. You sign a mandate setting out its task and its pay. The Monetary and Financial Code forbids it from receiving any fee until the loan funds are actually released: if no loan is granted, you owe nothing. Check the ORIAS number on the register before you sign anything.

What does a broker charge?

Practices differ. Some charge a percentage of the amount borrowed, around 1%, others a flat fee of between 1,500 and 2,500 euros. One online broker, for instance, advertises 1,890 euros plus 0.3% of the loan. The broker is also paid a commission by the bank, and in return often secures lower bank arrangement fees, which offsets part of its own charge.

For a retiree, the test is total cost. On a 150,000-euro loan over twelve years, a rate gap of 0.3 points is worth about 3,000 euros of interest, and cheaper delegated insurance can save even more. Ask the broker to put a figure on that gain before signing the mandate, so that you can weigh it against the fee.

Example: Jacqueline, 66, and Bernard, 63

The couple want a 230,000-euro two-room flat near their grandchildren and put down 80,000 euros. They need 150,000 euros over twelve years, about 1,256 euros a month before insurance at 3.2%. On 3,800 euros of income, that is a 33% debt ratio. Their bank refuses because the loan would end at 78, past its limit. The broker finds a lender that accepts a final instalment up to age 85.

Profiles a broker knows how to place

A specialist handles a wide range of cases: a retired owner buying before selling, a senior still working at 66, a couple where one partner has a health condition, a widower buying out the children's share of the family home. Expatriate retirees with pensions from the UK, Ireland or the US are another common profile; brokers know which French banks accept foreign income once it is paid into a French account. For larger estates, the broker steers towards a mortgage-backed loan or credit secured on life insurance. On a tight budget, an honest broker may also tell you that no bank solution is reasonable.

The HCSF rules a broker must work within

Like the banks, brokers operate under the rules of the Haut Conseil de stabilité financière (HCSF, the French macroprudential authority): a 35% debt ratio including insurance and a maximum term of 25 years. Banks may make exceptions on up to 20% of their lending, mainly for main residences. A good broker knows which institution still uses that flexibility for older borrowers with high incomes.

The usury cap: a ceiling that age makes tighter

The APR (TAEG), insurance included, cannot exceed the usury rate. Since 1 October 2026 that ceiling stands at 4.09% for a fixed-rate loan under ten years, 4.68% between ten and twenty years and 5.40% beyond. For a 70-year-old borrower, expensive insurance alone can push the APR over the limit, and the broker then hunts for a cheaper policy.

Routes to a loan compared

The right channel depends on how unusual your file is and how much hand-holding you want.

Common mistakes with brokers, and how to avoid them

The most frequent is signing an exclusive mandate with an intermediary who has no experience of senior borrowers. Another trap is approaching banks yourself alongside the broker, which muddles the negotiation. Some borrowers keep quiet about an existing loan or a medical condition; the lender finds out later and withdraws its offer. Finally, never pay a deposit before the funds are released.

Stages of a successful application

1. Check the broker's ORIAS registration and ask for examples of files placed for clients over 65.
2. Read the mandate: length, exclusivity, fees and when they are payable.
3. Provide pension statements, French tax notices, savings statements and title deeds from the outset.
4. Decide together on the balance between term, deposit and security to stay under a 35% debt ratio.
5. Have a delegated insurance quote prepared in parallel.
6. Compare the offers on total cost, not just the nominal rate.
7. Observe the 10-day reflection period before accepting a home loan offer.

Frequently asked questions

Can a broker get me a loan at 75? Yes, if the project is short, the deposit solid and insurance found. Some lenders accept a last instalment up to 85, and later still with mortgage security.

Do I pay if I turn down the offer the broker found? No fee is due as long as the funds have not been paid out. Do read the mandate clause about withdrawing, though.

Do brokers handle consumer credit as well? Some networks deal with personal loans, home improvement loans and debt consolidation, which suits seniors who are not buying property.

Will I deal with the broker in English? Some brokers, particularly those serving expatriate buyers, work in English, but the loan offer and the notarial deed will be in French. Budget for a sworn translation or an independent adviser if your French is limited.

What if no broker can find a lender?

A blanket refusal is not the end. A retired homeowner can ask for a lifetime mortgage (prêt viager hypothécaire), still offered in 2026 from age 60, with no monthly payments and repayment on sale or inheritance. A conventional mortgage-backed loan remains possible against unencumbered property. For small amounts, supported personal microcredit through a charity can take over.

Selling your home en viager (a life annuity sale) or as a vente à terme (sale with deferred payment) raises cash without borrowing and is worth exploring with a notary. A gift from your children or a family loan, formalised by a declared acknowledgement of debt, can also close a funding gap the banks consider too long.