EPPARG welcomes Jubilé from France as a new member
The European Pensions and Property Asset Release Group (EPPARG) is pleased to announce that Jubilé from France has joined EPPARG as a member.
Jubilé is a young French start-up created in 2021. As a ‘mission-driven company’, Jubilé’s objective is to give people over 60 access to a fair and ethical financing solution: the Jubilé Loan. This type of loan for senior citizens is backed by property that the borrowers own and provides a new source of financing with a deferred repayment upon the death of the borrower.
With the Jubilé Loan, people over 60 can obtain a new way of financing their retirement by accessing some of the money linked to the value of their property. This allows them to withdraw money from the value of their home, without having to move, and thus to finance their major needs: financing dependency, adapting the home and staying at home, energy renovation and intergenerational aid, among others.
Convinced that seniors still have a role to play, Jubilé gives them the financial means to carry out their projects, with a fair and ingenious loan that makes retirement a new horizon where everyone finds the power to act and the pleasure to choose how to grow old.
Speaking on behalf of EPPARG, Steve Kyle, Secretary General, commented:
“It is a pleasure to welcome Jubilé on board as a member of EPPARG. This points to a rebound in the lifetime mortgages market in France, which has been dormant in recent years, and we are encouraged by the renewed interest in the market. We anticipate that there is room for more new players to enter the French market given the country’s ageing demographics and we look forward to seeing the emergence of a number of new solutions across the market.”
“We look forward to working closely with Jubilé and we welcome the company’s commitment to comply with EPPARG’s standards, which focus on ensuring a high level of business ethics and consumer protection, as the business develops and grows.”
Commenting on behalf of Jubilé, Mikael Levy, Co-Founder, said:
“Nowadays, in France, over-60s don’t have any financing solution even though over 70% of them are homeowners. Moreover, no fair and ethical solution is proposed to our parents. Yet they have huge financing needs! Whether it is for home improvement and adaptation, home maintenance, ageing well, the cost of dependency, or intergenerational aid, or even just for pleasure, access to credit is a major issue. Aware of the urgency, particularly in France where no one distributes such a solution, our membership of EPPARG is essential to enrich our project and allow us to develop our offer in an ethical and fair manner, in respect with EPPARG’s standards.”
EPPARG is the principal trade body representing the interests of home equity release providers in Europe. Countries with EPPARG representatives or associates make up over 75% of all the countries in Europe with a home equity release market.