Viager

[Dave Bloke]

Probably most dosboders know the French viager system. I still can't believe individuals get involved in this French form of equity release.

Basically an old person or couple gets their house valued. Say 500K. To buy it you pay 350K (the bouquet) then say 1K per month until the old codger turns up their toes. You gamble on them keeling over very quickly... but what if they live to be 90, 100, or 122? Would you even still be alive?

When you visit the old dear looks like this, you figure she's got what... 12 months? 18 months left?

Plus she's a smoker

Only when you pop past your newly acquired money pit she looks.... somehow different as she whizzes past on her blades. It is like your capital injection has given her a new lease of life

and so the months turn into year and then into decades, maybe she could have an accident on those roller blades?

 

[Axeman123]

I have heard of it, apparently any death of the old person involved in one would automatically be investigated very heavily. It would have to though: Imagine if the buyer had a mate willing to do a couple of years for "death by le driving dangerouse" and run up the curb when the seller was walking to the shop to intentionally kill them.

It will be interesting to see if the system holds up with continued immigration, there must be people in Africa willing to serve time in a reasonably safe/clean prison for not a lot of money. The seller is taking a lucrative contract hit out on themself if they get the wrong buyer.

[Funn3r]

When I saw thread title I thought fucking idiot can't spell viagra.

Don't like sound of this viager you might as well paint a target on your back.

[Yadda yadda yadda]

I wouldn't want to do this deal with anybody willing to take the other side of it.

[leonardratso]

i remember hearing about one such case many years ago, wasnt a hit and run thing, but apparently a lawyer or solicitor bought some old dears house and she outlived him, his son (another solicitor) took up the mantle after his old man carked it, and she outlived him as well. Dont know what happened after that, but i do remember it was a french thing.

 

[Mihnjeeta]

2 hours ago, Funn3r said:

When I saw thread title I thought fucking idiot can't spell viagra.

Don't like sound of this viager you might as well paint a target on your back.

My mind went straight here:

[Loki]

3 hours ago, Funn3r said:

When I saw thread title I thought fucking idiot can't spell viagra.

Same here 

[Dave Bloke]

19 hours ago, leonardratso said:

i remember hearing about one such case many years ago, wasnt a hit and run thing, but apparently a lawyer or solicitor bought some old dears house and she outlived him, his son (another solicitor) took up the mantle after his old man carked it, and she outlived him as well. Dont know what happened after that, but i do remember it was a french thing.

 

That's the lady in the second photo. Although it seems her daughter took her place.

[SCEPTICAL]

19 hours ago, Mihnjeeta said:

My mind went straight here:

That's Alia

[Dave Bloke]

My son was speaking to his Algerian colleagues. Apparently they are big into Viager as an investment. They seem to have a lot of luck as the old dears always keel over very shortly after signing the deal. Never seem to be issues with the police and in general the families are happy to get their hands on the inheritance before grandma blows it on cruises.

[Pip321]

On 12/07/2023 at 15:50, Axeman123 said:

I have heard of it, apparently any death of the old person involved in one would automatically be investigated very heavily. It would have to though: Imagine if the buyer had a mate willing to do a couple of years for "death by le driving dangerouse" and run up the curb when the seller was walking to the shop to intentionally kill them.

It will be interesting to see if the system holds up with continued immigration, there must be people in Africa willing to serve time in a reasonably safe/clean prison for not a lot of money. The seller is taking a lucrative contract hit out on themself if they get the wrong buyer.

Yep, the lady outlived the buyer and the son. The joy is the buyers family must maintain payments or the old dear keeps the money and the house. 

She famously lived until she was 122. Although she may have lied about her aged. 
 

https://www.spokesman.com/stories/1995/dec/29/it-was-a-great-deal-but-not-for-him-120-year-old/

 

[swiss_democracy_for_all]

You get the odd viager deal where there's no X per month, just a "bouquet", obviously in these cases you're gambling on 2 things, that the oldies don't trash the house as they age further, and that the property market doesn't fall.

For those with children that are wealthy enough to buy such a thing, might be a decent deal, if parents don't profit, children will.