Anyone who wants to afford something big these days, such as the purchase of new furniture or electrical equipment, the purchase of a car or the construction of a house, usually chooses a loan. To do this, however, creditworthiness must first be confirmed, and this is exactly what has become very difficult in today’s time when one financial crisis is chasing the next. Especially those who want a loan without a co-applicant are carefully checked for financial liquidity.
Above-average income makes independent credit possible
The number of applicants who want a loan without a co-applicant is increasing. Because nowadays the idea of independence is particularly strong among many, nobody wants to constantly have to justify whoever vouches for them. In addition, people’s trust in one another is also decreasing, which is also due to the many negative experiences that are often largely exploited in the media and the general financial crisis.
In principle, applying for a loan alone is not a problem. A good Credit Bureau and a permanent job with a very good income make the loan possible. Banks are particularly impressed by professions such as teachers and doctors. The prerequisite here, however, is that the borrower is single and has no children.
No independent loan with partner and family
However, if a married person wants a loan without a co-applicant, there are often difficulties. Because in a marriage, a person can be liquid, but the partner has already run high loans, is in debt or can be classified as a credit risk even without work. For this reason, banks almost always insist on the signature of the spouse for married borrowers.
Families with children must also have a particularly high income because the child’s livelihood is always included in the creditworthiness check.
It is easier if the desired loan amount is kept low. Here, banks are often less strict and are happy to approve a loan without a co-applicant.
A loan is not always advisable
Therefore, it is more advisable, especially as a family member, to discuss the loan request with one another and to apply for it together. If the credit is not granted due to the poor Credit Bureau or unemployment of the partner, then perhaps the urgency of the chalk should also be considered.
Because everyone who gets borrowed money has to pay it back. A new car or chic furniture and expensive televisions are often very tempting. But you can only buy what you have money for. If there is a financial risk in the family, this remains even with a loan without a co-applicant and can later lead to problems with the repayment.