You are a couple, you want to apply for a loan and ask yourself the following questions:
Does it make a difference whether I am married, separated or in a cohabitation?
Will my partner’s data be taken into account and will he / she be informed of my application?
In theory, the partner’s data is not necessary if the applicant’s budget criteria are met. The loan amount is determined using the budget calculation. This means that the partner’s situation is usually not taken into account.
Then why is the information about the partner required when filling out the loan application form?
Partner with solidity problems
Specifically speaking, some banks require the partner’s information to check their solidity (ZEK + debt enforcement). If the bank determines that the partner has debt enforcement and / or loss certificates, you can refuse the loan despite the good situation of the applicant.
Partner with a good financial situation
If the partner has an income and his financial situation is stable, the applicant has 3 advantages to take the partner into account when calculating the budget:
- To increase his chances of a positive answer
- The possibility to increase the loan amount
- Improve the scoring and thereby negotiate a better interest rate
Discretion with regard to the partner
The partner’s information is only necessary for the bank in order to obtain a global and as realistic as possible overview of the couple’s situation. Under no circumstances will the partner be contacted or obliged to apply for the loan.
In case of separation …
Separated people are considered single people. So no obligation to provide the information of the ex-partner.
Spouses are usually treated like single people, with the exception of the BCGE (in French), which includes the partner in the budget calculation.
Law KKG: partners and married couples under the same framework
Banks are trying more and more these days to get as much information as possible about the general situation of the couple and their decisions.
There are great chances that the new KKG law, which is planned for 2014, obliges all banks to systematically collect the partner’s data from married couples but also from couples who live in a cohabitation, and to categorically reject the credit if the partner becomes insolvent, even if the partner Applicant shows a solid situation and fulfills the budget conditions.