Credit with a co-applicant comes about if the borrower does not have sufficient creditworthiness. But not only then, even if a mortgage with a high loan amount is sought, banks require a co-applicant.

That’s usually the spouse. But even with limited creditworthiness, banks require a solvent co-applicant.


The most important thing – read quickly

The most important thing - read quickly

  • Always weigh up whether a co-applicant may not be avoidable
  • Of course, lenders also offer solutions for couples without community liability
  • Check your credit options right now – with individual data
  • Apply for this – without obligation, of course – your desired loan


Credit with co-applicant – the role of co-applicant

Credit with co-applicant - the role of co-applicant

Credit with co-applicants – achieve more together

A co-applicant or second borrower secures the loan with his signature. As a co-applicant is often the spouse, the life partner or another close relatives on. These people often make a loan possible. The co-applicant, like the borrower, also has liability and can be held liable in the event of a loan default on the part of the borrower.

Often a co-applicant is also required for large loan amounts. Borrowers can take a co-applicant as a guarantor in the loan agreement. For example, if the creditworthiness of the borrower is insufficient for a loan. With the signature of the co-applicant, the credit opportunities are increased and often better conditions can be offered.


Credit with co-applicant – find the right lender

Credit with co-applicant - find the right lender

A co-applicant loan is provided by almost all banks. Customers can go to their local bank, apply for an online loan, or apply for a loan through a credit intermediary. Banks are generous when a co-applicant secures the loan. Banks reward this process, as they have a solvent second borrower, which then reduces the risk of default.

Customers can even receive a consumer loan from the dealer with the help of a co-applicant. Before deciding where to take up the co-applicant loan, different loan offers should be compared. The loan seeker can then use a credit comparison. Smava’s is noncommittal and free and displays only reputable vendors.


Credit with co-applicant – credit comparison

Credit with co-applicant - credit comparison

In order to get a really cheap loan, the credit comparison serves to compare the individual loan offers. The comparison is easy to use. The loan amount, the term and possibly a purpose are entered. With a click, the borrower sees not only the amount of the loan, but also the interest rate.

Where the displayed interest rate is not relevant for all customers. In many cases, interest rates are calculated on the basis of creditworthiness.

If the credit rate is displayed too high, extending it can reduce it to the appropriate level. Also important is the annual percentage rate, because only this shows all the costs of a loan. The customer learns his personal interest rate when making a credit inquiry.


Credit with co-applicant – what documents are necessary

Credit with co-applicant - what documents are necessary

If you decide to co-opt for the loan, you should remember that the loan application must be signed together with the co-applicant. Likewise, evidence of income must be provided. In most cases, the bank payrolls of the last three months, as well as bank statements from the same period. Some banks still require a revenue and expenditure account.

Also, a copy of the employment contract can be requested. These documents are not necessary if the loan is taken out at the house bank, where all data of the customer are recorded.

When applying for credit at one of the many online banks, the customer then has to make the Postident procedure at Swiss Post. At the same time as he received the loan offer, he was sent a coupon to let the borrower go to the post office and have his person legitimized.


Credit with co-applicants – which credit is possible

Credit with co-applicants - which credit is possible

Who takes a co-applicant in his loan agreement, which are all opportunities for borrowing open. However, the co-applicant must have the necessary solvency for it.

The financing can then be successful from mortgage lending to a car loan to a small loan. Only with the credit line no co-applicant must be mentioned, unless the account is used by several persons.

But this also means that all persons who are registered as beneficiaries of the MRP are liable for the dispo.


Credit with co-applicants – prospects

Credit with co-applicants - prospects

Before banks want to approve a loan they have collateral. Here are just addressed young couples who want to finance their own home. As a rule, these young people can not present exciting collateral. Occupational status is still in its infancy.

If there are redundancies in the company, the young employees are the first to leave. The scenario continues when the partner becomes pregnant and can not work for the time being. Then a loan can quickly become a nightmare. Banks usually have solutions for all circumstances and know what it looks like in today’s professional world.

Then just the loan with co-applicant can hedge the loan. If there are no assets, the bank will have two salaries, provided that both partners have a job.


Credit with co-applicant – income

Credit with co-applicant - income

Among the income bankers also include maternity and child benefits, if the loan is paid within the time that income exists. Maternity benefit is only paid for a limited period of time. In general, the income must be so high that a seizable portion of it emerges. After deduction of all expenses an amount must be left, which then serves as a credit rate.

Banks will prepare a household bill, using standardized expenditure as for their livelihood. If the bill goes up, the loan is approved.

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