Credit without guarantor
Anyone who wants to obtain a loan without a guarantor as a loan applicant must also have a creditworthiness on their own. As a rule, it is also easily possible to obtain a loan without a guarantor if the conditions are met. The prospective loan must have a sufficient solvency alone. Thus, the income must be enough to make a living and also to be able to pay off the loan installments.
Certain groups of people receive hardly any credit without a guarantor
As a pensioner or employee, it is basically no problem to obtain the loan without a guarantor. However, if the prospective customer receives sick pay or unemployment benefits or is single parent with children, the situation will be different. At this point there is no sufficient creditworthiness and no loan is provided without guarantor. Lenders always want married couples to have both partners sign the contract together.
At this point, a partner does not act as a guarantor in the credit agreement, but is spoken by a co-applicant. Thus, in a marriage, however, both partners are reported to the credit bureau. It has often happened to a couple in the past that only one partner has taken out a loan on their own. What counts for the bank, however, is the level of commitment that both partners have in common. The bank only grants a loan without a guarantor if a partner earns very well.
Usually, however, a couple only gets a loan together, even if there are children. Whereby the requirements of the banks differ in part and therefore a comparison should always be made. If a prospective loaner needs the loan on his own then he will have to apply for a loan or just have a bit of patience.
General information about the loan without guarantor
After a guarantor is burdened with the same loan, many wish a loan alone and without a guarantor. The problem with shared credit is that if the guarantor then wants to take out a loan on his own and already has the loan in common with a partner, then there will be difficulties here. Often the friend is given a guarantee, without the consequences are known. Even if the guarantee is not claimed, it is nevertheless always a certain burden.
The opportunities for a loan without a guarantor look good if there are no preliminaries, work in a permanent position and the credit bureau information is positive. The chances are relatively small, if the prospective customer is employed in temporary employment, has a fixed-term employment contract or has only a low income. Unfortunately, many people do not earn much and if the income does not fit, there is no loan without a guarantor.
But there are often other securities that can be crucial to a bank. At this point, many potential creditors have rental income or life insurance as collateral. Anyone who does not get credit from a German bank can contact a credit intermediary, because they have relationships with banks abroad. Often, the requirements here are a bit lower, with interest rates often higher.