Borrowing from two often makes it possible to obtain better financing conditions. For banks, this is a more reliable and solid record. According to statistics, among the best negotiated rates 85% of the profiles include couples. In addition, it is generally easier to borrow two when it is a more secure situation for the creditor who takes into account the income of both people and estimates their ability to repay in full.
Why buy two?
Couples have lower incomes than singles. For example, a bank requires 20000 euros of annual net income to a single person while for a couple the required income is 35000 euros. Moreover, the risk of non-repayment is spread over two people, at the same time as the personal contribution and the investment capacity are greater. Remember that if the status of the borrower is precarious the other can consolidate the file and thus increase the chances of obtaining funding. Not surprisingly, lenders are more likely to lend to couples who otherwise do not have to be married.
The couple can be Place or in concubinage
In all the cases the banks require most often that the two members are co-borrowers solidarity. This means that the two people are in solidarity with the repayment of the loan and are accountable to the bank. In case of failure of one of the borrowers, the other is responsible for assuming the charge. For information, the financed property is considered common for married couples even if one of the spouses supports the larger share. For other forms of union it is an indivision that does not have to be 50/50. The shares must be specified in the deed of sale. In this sense, it should be mentioned that during the eventual separation one of the important issues to be settled is the sharing of the real estate. Group your credits and reduce your monthly payments