Did you know that there are banks that refuse a loan without a co-applicant even with the best credit rating? The article deals with who this is, which credit institutions grant cheap loans even without a co-applicant.
Loan without co-applicant – not for married couples
A loan without a co-applicant can be applied for by many credit providers, provided the creditworthiness is sufficient. But there are also exceptions. For example, the credit from comdirect, above 10,000 USD, is measured using other standards. Only as a single applicant is it possible to implement the loan request without a co-applicant. For married couples, the basic rule is that the spouse must also apply for a loan of 10,000 USD or more. Personal creditworthiness is irrelevant.
Anyone who encounters a similar regulation when it comes to a loan request is naturally outraged. More than 50 percent of all marriages are divorced. Personal responsibility, always hoping to belong to the other 50 percent, is essential. Otherwise, in the case of a war of roses, the “backfire” can happen. But even without the idea of separation, it is not clear why a co-applicant should be required.
Credit security is not at risk if the creditworthiness is good. The only reason to act as a guarantor or co-applicant is to help a loved one out of a credit crunch. Deriving an obligation from this is worded carefully – inappropriately.
Loan without guarantor or co-applicant – loan comparison
All loan offers that you can see in the connected loan comparison are loans without co-applicants. Nevertheless, the loan offers are not inflexible. If you have a low credit rating, for example if you only found a mini job, you can name a co-applicant. With average creditworthiness this is of course not necessary.
The question – with or without a co-applicant – also has no influence on the amount of interest offered. Even the currently cheapest interest rate, with an effective annual interest rate of 2.89 percent, is an interest rate offer that is independent of creditworthiness. (Reading day September 27, 2013). If, for example, 3,000 USD with a term of between 12 and 36 months are to be financed, the offer could be taken up. The loan provider for this loan offer without a co-applicant is Salader Bank.
It is not only in the case of small loan amounts that credit-independent interest offers and the possibility of personal responsibility are in harmony with one another. A credit example comes from the DKB. Loan amounts of 2,500 to 50,000 USD can be effectively applied for at the non-credit interest rate of 4.95 percent. The possible duration of this loan offer without a co-applicant can be freely selected between 12 and 84 months. Provided that the necessary personal creditworthiness is always provided, the interest offer mentioned applies equally to all terms and loan amounts.
Without co-applicant with a difficult credit rating
Even if the creditworthiness is difficult, fair interest and the waiver of a co-applicant are compatible. One of these options is private lender credit. Private investors use a bidding process to decide whether or not to grant a loan on the terms of the borrower.
Even without credit bureau, the loan is possible without a co-applicant. Credit protection is then guaranteed only by assigning the income from work.