Interest on loans as we have previously written, there are some basic differences between a Personal Payday loan and other types of loans. For example, a classic mortgage loan is characterized by a mortgage on the property to which the loan is linked. The bank issuing the loan therefore has some security with the loan being secured in the value of the home. Another example is car loans that work the same way. A Personal Payday loan, on the other hand, is without security, and thus often a little more expensive for the Personal Payday to take up. But there are still good opportunities to secure good interest rates on a Personal Payday loan.
Better deals on loans with a co-applicant
In the article on good advice, when you need to borrow a loan, you can become more aware of what considerations you should make before you start your loan application. Now it becomes even more concrete!
If you apply for a loan with a co-applicant, you get two basic benefits:
- Banks are more likely to offer you a loan
- The loans you are offered will be cheaper than if you applied alone
All the banks Good Finance collects offers from, allow you to apply with a co-applicant. You can start an application here.
Who can be co-applicant
“ Banks are more likely to offer you a loan that will be cheaper than if you applied for a loan alone.
The short answer is: Anyone! But the most common is still to apply for a loan with his spouse or cohabitant. This is because you are already “linked” legally – so why not get better offers by searching together?
But it may as well be your friend, your son or your godmother. The only requirement is that the co-applicant must fill in part of the application with his / her own information and use his / her NemID to approve the application.
Therefore, the loans become cheaper
When a bank receives a loan application, they make a credit rating. Here they look at your financial conditions, housing conditions and several other things. The result of the credit rating is whether the bank will offer a loan and – if so – what the interest rate is on that loan.
Roughly speaking, the banks can offer cheaper loans, the less risk they are considering issuing the loan. And if you apply with a co-applicant, the bank’s risk falls and thus you get better interest rates.
Through Good Finance you can receive offers from several banks – easily, securely and without obligation.
Apply for a loan Fill only one application and receive offers from several banks. Free and no obligation application now
Do you want to receive tips and tricks to find the cheapest loan?
Sign up and receive our newsletter, as well as marketing financial products and related services