A housewife’s loan or even a credit for housewives is a loan that the household manager, who receives no or only a very low personal income, can apply without signature and thus without the knowledge of her spouse. Regardless of the product name Housewife Credit, household-leading men can of course apply for this loan. The term housewife credit is based on the classic model of marriage with the man as the main earner or as the sole income recipient and the woman as responsible for the household and for the education of children partner.
Despite the conventional distribution of roles associated with this loan, the awarding of a housewife credit is part of emancipation. After all, this loan enables the woman who does not earn her own income to take on her own responsibility.
The household bill at the housewife credit
When awarding a housewife’s credit, the Bank does not carry out the household bill, as usual, exclusively with the income of the applicant, but with the total household income. Thus, it allocates a part of the earnings of the recipient of a wage to the self-employed claimant and authorizes the loan if the monthly income of the entire household is sufficient for the settlement of the credit installments.
In general, the housewife credit is additionally associated with a relatively low maximum amount.
Is the husband responsible for the housewife credit taken by his wife?
In principle, only the person responsible for the repayment who has signed the credit agreement is liable for credit products. However, in the case of homemaker credit, there is another statutory provision requiring married couples to be mutually responsible for obligations entered into by one or the other within the framework of sound financial management.
This liability applies directly to the spouse, which, however, implies an indirect obligation to pay the loan installments. This obligation applies exclusively to spouses and not in illegitimate communities, so that almost all banks, which continue to offer housewife loans, the marriage certificate for the lending presuppose.
However, a residual risk remains with the bank. Since it does not ask for the use of funds for home-loan credits which have not been granted, it does not know whether the applicant is actually using the money for the joint financial management of her husband.
The credit bank can not rule out that its customers actually use the money paid out as a credit for housewives for joint ventures with a lover or even for the maintenance of a lodging used with them. In such cases, of course, joint liability of the man does not apply to credit obligations entered into for the purpose of living together.
Alternatives to a Housewife Credit
The number of banks offering home-loan loans has been decreasing regularly for several years. This is based on the one hand on the declining demand, as in more and more marriages both partners are working and thus can apply for a normal installment loan for salaried people.
Another reason for the removal of housewife credit from the product range of many banks is the changed risk assessment. Financial institutions are increasingly relying on the fact that the conditions for the joint liability of the earner due to the use of credit for common financial management actually exist.
An easily accessible alternative to the home-loan of a bank is to agree on a partial payment through the dealer, which often does not require the presentation of a salary statement. Housewives who have no income of their own are also given a loan on online platforms for brokering credit between private individuals rather than conventional banks.
Quite a number of lending platform members follow social criteria in their award decisions and, as a result, are quickly ready to sign the loan request made by a housewife.
The chances of this increase when the applicant for a private housewife loan describes the planned use of money as accurately as possible, because the use of funds is considered by many private lenders as a key decision criterion.
5 Tips for Housewife Credit
1. Requirements for a housewife loan
A special credit for housewives is no longer available today. Nevertheless, this term holds true. It is a loan that a non-working woman wants to take out. A personal income can therefore not be used as collateral for the loan. Rather, it is necessary to show other collateral.
This can be a man’s income, a valuable asset, savings or a guarantee. If the housewife files the loan application alone, she can usually receive significantly less money than if she makes the loan application together with her husband. The concrete requirements are set by the individual lenders.
2. Credit Terms – Bank Loans
Bank loans can be differentiated into the installment loan and the credit line. If only a few hundred or a few thousand euros are needed, the credit line may be an alternative to an installment loan. However, he requires a secure income and can therefore only be set up in an account that the housewife leads together with her husband. Of course, the rules in question also apply to housekeepers.
A installment loan is also referred to as a purchase loan. It is freely usable unlike a car loan or a real estate loan, which has a strict purpose limitation. The payment is made after checking the creditworthiness and the authorization in one amount.
3. Loan for the housewife – payday loan
Household credit does not always have to be a bank loan. On the contrary, often a payday loan is the better choice. This is especially true when a person from his own relatives is ready to lend the housewife some money. Individual disbursement and repayment plans can be arranged here, which is not the case with a bank loan.
But they also have to be complied with, because otherwise much trust is lost that often can not be restored later. Another alternative is a payday loan from the internet. There are special switching platforms for this purpose.
4. Compare loans
It is advisable to compare as many offers. In particular, a credit comparison portal on the Internet is suitable for this purpose. It has the advantage that always top current conditions of various regional and national credit providers are presented. It shows the available loan amounts, the terms, the interest rates and the monthly installments. It is also common that the cheapest offer leads the list.
A comparison is possible around the clock and from any location, Internet access provided. Following the settlement, interested parties can contact the lenders they want by clicking on a link that takes them directly to the relevant website.
5. Apply for Credit – Credit Check – Disbursement
Depending on which lender is concerned, an application on the spot or on the Internet is possible. For this purpose, a form must be completed and then submitted or submitted. As a rule, additional documents such as proof of income must be submitted. You are not present with a housewife. Therefore other collateral must exist. Whether they are sufficient and whether the creditworthiness is in order is examined in the context of the loan application.
If this is the case, the credit for the housewife will be paid. This can be done by a transfer to the desired giro account or by cash payment. At a local bank, this is done by paying out at the counter. Other banks choose other methods such as sending the money by postal order or by courier.