Many credit seekers would like to borrow independently of their spouse. With this form of credit the second signature of the partner is waived. The reasons are very different. Maybe you want to fulfill a wish or surprise your partner.
Introductory overview of what is meant by the term
However, if the spouse gives the signature, he automatically becomes a co-debtor. In rare cases he also takes over a guarantee. As co-debtor or direct guarantor, the spouse is therefore liable for fulfilling the repayment obligation of the loan. In addition to the borrower, the liability of the spouse is jointly and severally liable.
The waiver of the assumption of a complicity in the credit by the partner may be further caused by the fact that the spouse is to be spared the joint liability for the loan. Other reasons are, however, that there is no partner or this rejects the joint liability. In some cases, the inclusion of the partner in the credit agreement may also be unreasonable, for example, because he has a bad credit rating. In this case, the bad score could jeopardize the overall funding.
While a few years ago it was still difficult to obtain a loan without the involvement of the partner, the supply is growing steadily nowadays.
Animal information about the topic
- Only one borrower
A loan without the spouse is completed alone. There is no need to obtain another signature as the loan is for one individual. This brings with it some advantages and disadvantages. Thus one can dispose of the disbursed money alone as a borrower.
- Free use
It can be decided independently for what one wants to use the credit. Purely legally, the opinion of the spouse has no weight, but should of course be included in a good partnership.
- Bypass possible Private credit entries
Furthermore, no second person is charged with taking out a loan. Therefore, the loan without spouse is a very good option if one of the partners in the past has made debts or negatively registered in the Private credit. This leads in most cases to the rejection of the loan request. Even if the partner is not financially well off, this model can still help you get a loan.
However, if the bank or savings bank does not waive the signature, then in the case of installment arrears it is possible to decide whether to proceed against the borrower, the spouse or both parties at the same time in the absence of payments. If the partner acts as guilty guarantor for the debt, the bank acts in a similar way.
Most regular banks seldom grant credit without the spouse. If the spouse is obliged to act as a co-debtor, the bank wins another person whose assets and income they can fall back on in case of emergency. Therefore, the lender enters into such a loan only if the borrower himself has a particularly good credit rating or can provide other collateral.
Such a good creditworthiness can be achieved, for example, by a particularly high income or by the activity in the public service.
Which special forms / lower forms are there?
Although the number of loans without a spouse has steadily increased in recent years, it is still limited. Often, a loan is only given to both spouses because the bank benefits from the tax combination of the couple.
They provide additional security for the bank, provided the loan is both a debtor. However, it is assumed here that both partners have a regulated, independent income. Thus, the repayment of the claim is secured. Of course, there are still banks and credit institutions that offer a loan without the involvement of the partner. This is due to the huge demand in this area.
As a general rule, savings banks, banks and banks are all the more likely to agree to a loan without a spouse the lower the loan amount is. Of course, the available securities also play a role. Often, the co-liability of the partner is waived if the desired sum does not exceed 5,000 euros.
For higher sums and risky financing, the lender insists on the joint liability of the spouse. This applies, for example, to the financing of real estate or loans to freelancers and the self-employed. In addition, the credit check is particularly strict here, making a fast online loan impossible.
Furthermore, every prospective banker should know that banks and savings banks can afford to pay for the signing and thus the joint liability of the spouse with a huge risk premium. This is noticeable when determining the loan interest.
What are possible pitfalls?
- Is the income sufficient?
On the Internet, there are many providers that provide a loan without requiring the signature of the married partner. However, the prospect must also ensure that he has a sufficiently high income.
- What does the Private credit say?
Ideally, there are no negative Private credit entries and you can prove permanent employment without a fixed-term contract. If one of these points can not be fulfilled, it will be difficult with the loan without a spouse.
- What do you do as a freelancer?
Self-employed or freelancers will also find it difficult to obtain a loan without a spouse. The reason is that bank credit checks are very complicated and multi-level. In addition, each bank and each credit institution has certain lending policies to follow. These guidelines vary from bank to bank. However, a basic prerequisite for taking out a loan is that the borrower must have reached the age of 18.
A Private credit-free loan without signature of the spouse is hardly possible. The credit institution waives the participation of the partner only if the Private credit inquiry results in a particularly good scoring value. Furthermore, no negative entries may be recorded.
What to do if bad Private credit / credit rating?
Many lenders advertise with loans to people with bad credit ratings or Private credit. In principle, every offer must be checked separately. Especially in the sprawling Internet hide many black sheep, either never pay the loan, or desperate credit seekers with usurious interest the thumbscrews.
Reputable online lenders can be the last port of call for a spouse without a spouse credit. These companies can be recognized, for example, by a seal of quality on their Internet presence. However, it should be remembered that even the sum of 5,000 euros for these providers is utopian. People with bad Private credit receive here only mini-loans to about 1,000 euros.
If some trustworthy providers are found, the loan terms must be compared. Especially with bad credit, it is important to save every penny and not spend more than necessary. Of course, the rates must also be adapted to the personal situation. If they are set too high, further legal problems threaten as well as other financial problems.
Who does not want to include his spouse in the loan and at the same time has a bad Private credit, should think very carefully whether the inclusion of a loan is really essential. Especially when no large amount is needed, friends and family should be the first port of call. If they can not give anything and save is no alternative, going to the pawnbroker can be a short-term opportunity to get money fast and without Private credit.
Current figures and interest rate developments
In order for a bank to be able to lend money, customers have to invest money on the other side of the counter that the bank can work with. Therefore, the amount of interest is directly influenced by the number of saving. In times when few people are saving, credit rolls off big profits, while loans are only to high interest rates. On the other hand, more people are saving, their savings are losing less and less while interest rates on loans are becoming cheaper.
However, banks can not only rely on their clients’ money to lend, they also borrow money from the European Central Bank. At present, the ECB’s key interest rate is 0.00% (since 10.03.2016, previously 0.05%), which allows banks to offer particularly cheap loans.
Currently, loans are freely available and without involvement of the spouse with a good credit rating from 0.99% APR. It is true that with larger amount and longer term, the interest rates increase.
Examples of use:
– Cash payment when buying a new car
– No financing from the dealer or manufacturer
– Package holiday by credit
– No financing of the trip directly through the tour operator
– eg roof renovation, bath renovation, new floor, new heating
– own property is being renovated
With a small loan without a spouse, the new car can be paid directly in cash. Thus, the expensive installment financing at the dealership or manufacturer can be bypassed. This may save a lot of money.
Even if one flies at the end with the spouse and the family on vacation, the loan does not necessarily have to be taken with spouse. The holiday can be paid in full in a sum. You save the most expensive conditions directly with the tour operator.
It is important to preserve the value of your own property. Remediation measures are also worthwhile on pump. For smaller sums, the bank does not necessarily have to be entered in the land register. Thanks to current low interest rates, a good loan can be obtained even without this entry and without a spouse.
Loan amount: 30,000 EUR
Effective interest rate: 1.95%
Running time: 84 months
Monthly rate: 382.36 EUR
Total interest: 2.118,40 EUR
Loan amount: 8,000 EUR
Effective interest rate: 1.95%
Duration: 48 months
Monthly rate: 173.39 EUR
Total interest: 322.55 EUR
Loan amount: 12,000 EUR
Effective interest rate: 1.95%
Duration: 60 months
Monthly rate: 210.07 EUR
Total interest: 604.24 EUR