Loan with co-applicant – Better loan prospects if you are two

Being strong alone is a popular term, but when it comes to loans it is usually just the opposite. If you are two, the opportunity to obtain a loan is often greater and sometimes it is even a necessity for even the loan application to be granted. At the same time, there are several things to be aware of if you take out a loan with a co-applicant.

Some benefits of borrowing money with someone:

  • The likelihood is greater that we grant you the loan application
  • The repayment capacity is seen as higher – you get a larger total income
  • The above applies if both have an income and meet the basic requirements.

 

Important to agree

credit loan

It is important that it feels right to take out a loan together. Talk through it so that both parties are aware of what it means before making an application. Also, do not forget that you have shared financial responsibility throughout the contract period, even if you choose to take different paths further ahead.

 

Joint liability with co-applicants for the loan is repaid

Joint liability with co-applicants for the loan is repaid

As a co-borrower, you have joint and several liability for the loan, which means that you are both equally responsible for the payments being handled. In the event that your co-borrower is unable to pay his part of the loan, the entire payment responsibility will fall on you. Each person on the loan thus has 100 per cent payment responsibility and not half each.

 

Take out loan protection for extra security

Take out loan protection for extra security

When you take out a loan with us, you are offered to take out the insurance Loan protection that can help you with your monthly payments for your loan if you become sick off full-time, involuntarily unemployed or if one of you dies. It is an extra security if you both take out loan protection.

 

Make a credit report on yourself

Make a credit report on yourself

With UC’s My Information service you can order a credit report on yourself. That way, you can get a good overview of your personal finances, your loans and credits, any payment remarks (even when they disappear) and latest credit requests made to you.

 

The overall assessment determines

credit loan

It is often advantageous to be two when applying for a loan. However, there are many factors that come into play and in the end we make an overall assessment.

 

We offer simple loans with nice terms

simple loans

With us you can apply for bank loans, car loans and mortgage loans. We can also help you collect your loans.

Borrow money from us!