The couple and the credit – Spouses, Cohabitants

You live as a couple, you want to apply for a credit and ask yourself the following questions: Is there a difference if I am married, separated and living together?

Are spouse data taken into account and will you be informed of my request?

 

Married couples

Theoretically, the spouse’s data is not necessary if the criteria related to the applicant’s budget are met. The budget calculation will allow you to define the credit amount. Which means a priori that the spouse’s situation will not be taken into account.

If so, why is spouse’s information required when filling out the credit application form?

Spouse with solvency problems

Specifically, some banks require the spouse’s coordinates to verify their solvency (Zek + debts). If the bank finds out that the spouse has  debts and / or deficiency certificates , he can refuse to grant the loan despite the good situation of the applicant.

 

Spouse with a good financial situation

If the spouse receives income and his financial situation is healthy, the applicant would have 3 advantages in taking it into account when calculating the budget:

  • Increase your chances of getting a positive response
  • Possibility to increase the credit amount
  • Improve the scoring and therefore the possibility of negotiating a better rate

 

Discretion towards the spouse

Spouse information is needed only to allow the bank to have a global view and closer to the reality of the couple’s situation. The spouse will not be contacted or engaged in the credit application.

In case of separation …

Separated people are considered unmarried. So there is no need to communicate the information of the ex-spouse.

 

Living together

Cohabitants are in principle considered unmarried / single persons, with the exception of BCGE (in French) which also takes into account the relative in calculating the budget.

 

LCC law: cohabitants and married couples under the same regime

couple credit

Banks nowadays are increasingly trying to get as much information as possible about the couple’s general situation and the decisions within it.

There are strong chances that the new LCC law scheduled for 2014 will force all banks to systematically request the data of the relative for both married and cohabiting couples and that the insolvency of the relative will result in a categorical refusal even if the applicant has a situation healthy and meets budget criteria.

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