For many, the question is not whether they will get a loan or not, because their creditworthiness speaks for it. But not everyone can apply for a loan without problems, this also applies to families with children. Those who want to take out a loan with two children do not consider everything when applying for a loan. There are a few things to consider here!
What is often underestimated?
Applicants for a loan with 2 children believe that they always have enough income. However, they do not consider that child benefit and childcare allowance are not included in the salary. These payments cannot be attached and are therefore excluded. So often there is only a salary if one parent stays with the children at home. Since children always cost a lot of money, in many cases this can be too small to apply for a loan with two children. Credit costs should not be underestimated, they can often burden the household budget. School trips, clothing, food and little things cost a lot of money for children.
How can a loan application be successful?
If you want to take out a loan with two children, you should first draw up a budget. Insurance costs, the money to live and other expenses are entered here. Then the income, without child benefit or other social benefits, is counted against it. If there is no money left, the way to the bank will be unsuccessful. There is simply no money for the loan installments. However, if a sum remains, it can be used for the repayment. It should not be underestimated, because if household appliances such as a washing machine break down or the car has to be repaired, then it must also be affordable.
Requirements that must be met
Ideally, both parents work so that there is a lot of income to secure the loan. No loans that still have to be paid off may be entered in the Credit Bureau because this reduces the creditworthiness and often leads to rejection. An employment contract must be submitted. This must be permanent employment. People who work on a trial basis will not receive credit. A loan application can then be made with the documents. Only the bank can decide whether it will be accepted or rejected. If the application is approved, the loan amount is then transferred to the checking account and can be used by the borrower.