The banking partners generally ask the couples who make a purchase of credits to declare themselves co-borrower, to facilitate the operation and the release of funds.
Co-borrowers: redemption of credits
In France, many households have already subscribed to one or more loans to carry out their project. It turns out in some cases that repayment payments are too large. To reduce the amount of their maturities, the majority of borrowers call for the purchase of credits. Indeed, this bank transaction allows to group some or all of its outstandings into a single loan with a lighter monthly payment. The reduction of the monthly payment is possible thanks to an extension of the duration of the loan. The borrower will then see his budget rebalance and his debt ratio is reduced, inducing the increase of his remaining life.
Credit redemption: with or without co-borrower
The credit repurchase agreement signed by the borrower can also be signed by a co-borrower. The latter benefits from the loan in the same way as the borrower, they are therefore obliged to repay their loan. In the case where the borrower is a couple (married or married), intermediaries in banking operations (IOB) consider the spouse as the co-borrower, the income of the co-borrower are taken into account in the borrowing capacity if he is on a permanent contract. The banking partners usually ask a co-borrower for couples because their expenses are common, they have a single tax assessment and are often both owners of the same home. In the case where the borrower is not a couple, the request of a co-borrower is not necessarily required but can limit the risks, it depends on the lenders who can analyze the same file differently. Note that a loan consolidation file without co-borrower (or even with) will be more easily accepted if the home turns to a specialized institution such as Astro Finance.
We are one of the best lender in town, if you need help do not hesitate to contact us now!