With these simple tips, you increase your chances for a loan approval and can soon finance your wishes.
When you apply for a loan, your bank automatically performs a credit check. With such an audit, the bank wants to estimate the individual risk that you have when lending.
A customer with an average salary and a very positive credit bureau is considered by the bank as a reliable customer. With such conditions, we quickly get a commitment. On the other hand, with a low salary, the bank is considered unreliable. A low income means a small amount of garnishment for the banks, which means we are more likely to be rated higher in risk.
A risk assessment by the bank has an impact on credit conditions
With a low default risk, the customer gets a cheap loan with low interest rates. If the default risk is considered elevated by the bank, the loan automatically becomes more expensive. With higher interest, the customer pays a kind of “risk premium” for the bank.
If the bank believes that the loan can not be repaid because the customer has been rated as high risk, lending will be denied. With a rejection at a large bank, we have bad cards immediately, because the decision can not be negotiated.
Use simple tips to increase your credit chances
Before making a credit request, we should carefully review our earnings. A simple revenue-spending bill is made quickly and gives us an accurate overview of the disposable income. So we can estimate how much credit we can actually afford.
Couple is twice as good. Sometimes it is an advantage if we have the opportunity to apply for a loan with a co-applicant. Married or not, couples can generally borrow together. Siblings or our parents are also suitable as co-applicants.
For the bank, a second applicant provides additional security, as in the case of a seizure, an additional income is available. A co-applicant increases their chance of getting a loan.
For banks, collateral is very important. The more collateral an applicant of the bank can provide, the better a credit check. For example, real estate is a collateral, and life insurance also provides an asset for a bank with which we can hedge a loan. Ask the bank more collateral to increase your chances.
Bring the bank:
- a co-applicant
- her life insurance
- a home savings contract
- or other assets
Not always is credit without credit bureau the last resort. Many customers who thought that they would not be able to get credit from a normal bank have managed to do it. Of course, no one can 100 percent guarantee that you receive exactly the desired loan amount.
Exactly for reason, the loan request and subsequent loan offer is 100% free and non-binding. Apply today for your personal loan offer. In the case of a cancellation, we will charge you for the service for our service no cent.