What do you expect from credit for 2 people ? A quick process for quickly available money?
Are you really confident in your decision to apply for credit together? The credit is neither good nor evil, but only purpose-oriented and to the advantage of the borrower.
Basically, the joint application can be helpful and useful. But unfortunately not always.
Right you are here if you want to compare loans. In addition, we provide you with information.
Credit for 2 persons – shared joy, shared sorrow
Banks like to grant credit for 2 people because the joint credit standing of the applicants even qualifies them for larger loans. This makes it easier for banks to complete the statutory credit check with a positive result.
Credit for 2 people – more room for your wishes
But the purpose of allowing joint credit application is not limited to the benefit of the bank. Not only should it receive an advantage, but both borrowers alike.
This brings the purpose of borrowing into focus. No matter what the money is spent for, both borrowers should in equal parts benefit from it.
Whether this is a joint trip around the world, the building of a house or the wedding party, does not matter in principle.
Common credit inevitable – big wishes
Most frequently, credit is requested for 2 persons from young couples. The first common loan is for many of the credit for the wedding. A big celebration, after all, you only get married once in a lifetime, to start the future. These are often sums of 25,000 USD and more in the game.
For loans for free use, on top of that for young people without valuable insurance, a lot of money. Only the joint credit rating finally makes it possible to put the big dream into action. It continues with the credit for 2 people to build a house. Later, when the children come, the nest should be ready. Big purchases are on the plan.
The home ownership as well as the equipment of the common living space, cost a lot of money.
Joint credit, used properly – small conclusion
A first small conclusion for joint credit, that is positive. If both borrowers benefit equally from lending, the common risk is the logical consequence. But, who does not dare, who does not win. The bottom line was that both borrowers had the same dream, they pursued the same goal.
Whether the outcome is positive or negative is secondary. Both bear the same risk and benefit. Under these conditions, credit for 2 people is a fair deal.
Unattractive developments – secure lending
Due to the USD crisis, credit offers have changed. A bank can only lend money today if the credit risk is minimal. In addition the legislator created additional regulations. Thus, the credit check today is hardly comparable to the past.
Banks now use the credit for 2 persons out of the way. It is no longer necessarily a matter of implementing a common desire. But much more about getting a loan at all. In the worst case, the loan with co-applicants for couples even in the application. Personal credit rating does not even matter. If you are married, you apply for a loan together or you will not receive any money.
Extensive provisions – avoid joint credit
Fortunately, credit with the spouse or no credit need not be the last word. After all, not all banks insist on the joint application, regardless of who is the beneficiary of the loan.
They accept the financial independence despite marriage. Incidentally, just as the German law provides.
A marriage is not a “clingy bond” because every spouse decides for himself what he signs. A simple change of provider, for which free credit comparisons are thought, can solve the problem already.
But only if the “solo applicant” is sufficiently creditworthy. If not, the bank’s desire for a loan for 2 people is not an arbitrariness, but merely a way out.
Use common credit – no license
Today, as in the past, no one has no reason for the credit check. In the past, people who could not afford their credit would only have an easier time of “overworking” themselves.
Today, the bank demands only earlier for a solvent co-applicant. As soon as someone can not afford his loan on his own, he is well advised to refrain from it. For, self-responsibility of the action is hardly possible with bad creditworthiness. Even standing up for “one’s own deeds” is only possible if personal preconditions permit it.
If the bank demands the loan for 2 persons, because the borrower alone can not carry the loan, a dependency relationship arises. The bank is fine. She does not take any risks. But the second borrower has no advantage, which can justify a risk.
Nevertheless, he now bears the credit risk virtually alone.
Better in this situation:
It would be fair and better in this situation, either to renounce credit or to change the provider. A risk loan would be suitable for this purpose.
Risk Loan – guarantor avoidable
When credit for 2 people, because the credit rating of the applicant is not enough, the bank goes the easy way. Basically, she puts her credit risk on the shoulders of the co-applicant. In return, interest payments remain low. Still, that’s not the only way to get credit.
Similarly, the increased risk could be redistributed to all borrowers of the bank. The loan would be more expensive in this case because the bank transfers the increased credit risk to the interest rate.
In other words, it forms “provisions”. Provisions are nothing more than a kind of “savings account” for loan losses.
Credit for 2 people remains avoidable. Because, the increased risk carries the solidarity of all borrowers on the interest rate.
Private credit – it works without banks
Private credit works differently than bank loan. Portals such as Auxmoney or Smava bring private lenders together with borrowers.
The initially somewhat crazy idea has long been one of the established credit offers worldwide. Again, the loan is avoidable for 2 people because the credit risk is being distributed.
On the one hand, a higher interest rate, but also through small partial financing. Funders offer partial amounts.
This reduces their own risk to small sums. By the way, they are mostly insured against credit default.
You only lose the interest.