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You are married or living together and you want to borrow money . How does that work? If you run a household together, you also apply for a loan together, on the basis of two incomes. It does not matter if only one of the partners uses the loan; you are both responsible for paying off the loan. The advantage of borrowing money as a couple: you often receive a lower interest rate than if you apply for a loan as a single person. As a couple you give the bank more security, because of two incomes, which gives you an interest advantage (because the credit risk is lower).
You want to take out a loan and you are married or you live together. What are the possibilities?
Applying for a loan together means signing the loan agreement with the bank together, even if the loan is only used by one partner. If you want to take out a mortgage for your joint home, permission from the partner is also required in addition to a signature. This is also the case with hire purchase and installment purchase.
A frequently asked question is: "Can we borrow money with our own house as collateral?" The answer to this question is no. You can use our loans and WOZ credit especially for home owners. They offer you a lower interest rate because a homeowner has proven to pay better than a rented householder. You offer the bank more security, which gives you the advantage of a lower interest rate or the option to borrow a higher amount.
Who is liable for which part of the loan? You are both liable for the loan if you live together, are married in community of property or in a registered partnership. You are then each jointly and severally liable for the loan for the entire amount, so for the entire debt. If you are married under a prenuptial agreement, the liability as included in these conditions applies. This liability applies in the event of, for example, a divorce or bankruptcy. During the marriage or partnership, you may of course share the payment of the costs yourself.
