{"id":10355,"date":"2022-11-24T07:24:08","date_gmt":"2022-11-24T07:24:08","guid":{"rendered":"https:\/\/loans.tiida-nissan.ru\/?p=10355"},"modified":"2022-12-08T18:42:15","modified_gmt":"2022-12-08T18:42:15","slug":"take-out-a-loan-with-a-second-borrower","status":"publish","type":"post","link":"https:\/\/loans.tiida-nissan.ru\/take-out-a-loan-with-a-second-borrower.html","title":{"rendered":"Take out a loan with a second borrower"},"content":{"rendered":"
\"Take<\/div>\n

Taking out a loan creates financial flexibility and is particularly interesting in times of low interest rates. Kreditexperte offer you the possibility to compare loans easily and comfortably to get the best possible conditions. Before taking out a loan, however, you should also consider the options for taking out a loan. So it is possible to take up a liability together with a second borrower. But what are the legal consequences for the contract, what are the advantages for the borrower and are there also risks with this model?<\/p>\n

Why should you take a loan with a second borrower?<\/h2>\n

As soon as two contracting parties decide to take out a loan together, both borrowers are considered equally obligated contracting parties. This means that both are also responsible for the repayment of the total loan.<\/p>\n

Despite the equality in liability, a formal distinction is still made in the main and secondary debtor. As a rule, the credit seeker with the lower credit rating is considered the main debtor, whereas the secondary debtor has a higher credit rating. In most cases, the loan applicant is also the main debtor.<\/p>\n

What are the advantages of having a second borrower in the loan application??<\/h2>\n

Now the question arises why it can make sense to involve a second borrower at all. This question can be easily answered superficially. By adding a second borrower, the credit seeker can significantly increase his creditworthiness and subsequently obtain loans that the bank might not otherwise grant him.<\/p>\n

There are however still further advantages from this procedure. Thus on the one hand the credit interest sinks, since the lender with a smaller default risk calculates and in the consequence in the position is to offer better credit offers. Since both borrowers are jointly and severally liable for the installment loan, the bank could, in the worst case, claim the remaining debt from both borrowers. What sounds so bad here is not the rule in everyday life. Most loans are repaid accordingly over the term in an orderly manner.<\/p>\n

Who should rely on a second borrower?<\/h2>\n

A second borrower is always useful if your own credit rating is not exactly the best. However, this does not mean any SCHUFA entries, but the monthly income. Because every loan must of course be paid off, which is why banks require a small household bill. Even if one gets along with the money in the month, it may not be enough for the for a loan.<\/p>\n

At the point a second borrower with his income can realize the required credit. Because his salary is also taken into account in the loan application. Especially for married couples, the joint loan application, because the better credit rating can lead to favorable loan interest rates. At this point, however, it should be noted that it is not sufficient to include only a second person in the loan application. This person must have an appropriate credit rating.<\/p>\n

What requirements must the second borrower meet?<\/h2>\n

When checking creditworthiness, financial institutions check the creditworthiness of both borrowers. Accordingly, the second borrower must, for example, also have a good credit rating<\/p>\n