Credit in marriage – Loan applied!
Marriage loan is a special situation for the borrower
A marriage loan is a special situation for the borrower, although the obligations of the borrower tend not to change just because the borrower is in the marriage. Many couples mistakenly assume that the borrower’s partner is automatically liable for a loan if the borrower is no longer able to make the payments.
However, this fact is simply wrong, because the spouse is only liable for a loan if he also signs the loan agreement himself. One might think that there is actually no need in marriage to sign a loan agreement together. But that is also not entirely correct, because the creditworthiness or creditworthiness increases enormously if the loan agreement is signed by two people with a regular income and a certain amount of assets.
Married couples can usually borrow more than singles. Nevertheless, both participants of the loan must then be aware that from now on they will also be jointly liable for the repayment. For example, if a partner loses his job, the spouse will have to ensure that the installments are repaid on time. For this reason, too, you should only sign a joint loan if, firstly, this cannot be prevented and secondly, both persons are sufficiently clear about their obligations.
Banks make demands on marriage credit
If the circumstances of the marriage are known and a loan is applied for, it is not uncommon for a bank to explicitly request a signature from the spouse. Even if the partner does not have their own income in the relationship, the signature is welcome at banks, because then simply a higher attachment assets are available if the worst comes to the worst. Whether the payments are ultimately settled from a shared account or from the partner’s account is irrelevant to the marriage credit.
If the individual’s creditworthiness is sufficient, it can of course also be implemented that both individuals take out a different loan. For example, the credit for the house can go to the husband and the credit to the car can go to the wife. The couple themselves are responsible for how this is ultimately regulated. It is certainly worthwhile to get detailed information about the conditions in advance. This way you can determine which variant generates the lowest total costs. As a result, money can be saved even further with a loan, as well as by comparing the individual providers on the market.