Credit with guarantee – general conditions for a loan

More and more often it happens that the banks demand a guarantor for the award of a loan. For a long time no credit will be forgiven by an easy hand. It does not matter if you finance a car, start a business or want to rebuild the apartment.

Usually this only succeeds if one decides on a loan with guarantee. The banks want to bring more security into the loan, which should ultimately benefit not only the bank, but also the borrower. But finding the right guarantor for a loan with a guarantee is not always easy. Because even here, the banks and savings banks have very precise ideas and are reluctant to dissuade.

The general conditions for a loan

The general conditions for a loan

Before you can even think about a loan with a guarantee, you first have to know all the other requirements for the loan and at least halfway meet. If you are not creditworthy at all because, for example, the private credit is negative and you have no work or because you are even in a bankruptcy, then the best guarantor does not help. Because then there will be no credit with him, too.

For this reason, you should try to get a good private credit, a good job with a good income and possibly even more small and large collateral to take out a loan. From these points, the bank will then determine the creditworthiness and determine which further guarantees are needed.

The loan with pledge for young people

The loan with pledge for young people

Anyone who wants to take out a loan as a young person often needs a guarantor. Sometimes even with small loan amounts. The banks and savings banks like it very much when the parents take over the guarantee for their children. They are particularly close, know their Filius and know exactly how he deals with money and meets his payment obligations. So you are most likely to be able to guide him through the loan without causing problems.

However, the parents can only take over the guarantee if they pursue a regular job. If they are already retired, the guarantee will no longer be so easy to implement. Then it has to be looked at, which other close relatives could act as guarantor.

The loan with guarantee for a corporate loan

The loan with guarantee for a corporate loan

If a loan is needed for your own company, this is never possible without a guarantee. Here it must be carefully considered who you use as a guarantor. If you use the spouse, this means that you are also liable with the private assets for the loan. If, on the other hand, you use another entrepreneur as a guarantor, you may find it difficult to distress your company in the event of financial difficulties or the other entrepreneur wants to have shares in the company for his guarantee. In the best case, you have enough material security to be able to handle the guarantee so.

The loan with pledge with older people

The loan with pledge with older people

Even older people feel the need to take out a loan now and then. Unfortunately, the banks do not necessarily make it easy for them, because they always have concerns that age and pension are too high a risk of default. Especially retirees are known to be very careful with money and are the ones who are the least at fault. Accordingly, a guarantor must secure the loan so that a loan works during the pension period. Here it is the children who can help their parents.

If they act as guarantors, the banks are usually quickly convinced of a loan. Because the children are significantly younger than their parents, earn money and will most likely during the repayment not to care. Best conditions for a guarantee and the hedge of a loan.