For many consumers with financing needs, the problem arises that the Credit Bureau information does not look quite as good, and the banks, therefore, refuse to approve the loan.
However, contrary to popular belief, negative Credit Bureau entries are not necessarily an obstacle to finding a loan – it also always depends on the overall situation in which the potential borrower finds himself.
Loans without Credit Bureau – requirements
Of course, there is also the possibility to get a loan without Credit Bureau. Before you go this route, however, your own situation should be analyzed in more detail and not immediately painted in the darkest colors: the first course should lead to the house bank where you have been a customer for many years and are known accordingly.
Because the advantage of the house bank is simply that the scope for negotiation is greater: the bank does not want to lose the potential borrower as a customer, but this is a risk if the loan is refused. However, this does not mean that the house bank inevitably makes a loan approval against all concerns and aspects that speak against lending: the goodwill of the bank is just a little higher, which in turn also depends on how good the customer relationship is actually.
Nor is it said that negative Credit Bureau entries necessarily mean that you cannot get a loan from a reputable German bank because the creditworthiness is checked more extensively than on the basis of Credit Bureau information. Factors for checking the creditworthiness are, for example, the monthly salary, saved assets and overall the income and expenditure structure of the loan applicant.
Interested parties who actually no longer get a loan
Due to their creditworthiness can apply for a loan abroad because outside of Germany a Credit Bureau query is not relevant. Nevertheless, the creditworthiness is also checked here, which means that a fixed, not too low and above all permanent salary of the potential borrower is necessary.
If the Credit Bureau-free loan is applied for in Switzerland, there must also be no Swiss debt, but debt in Germany is irrelevant. The respective living situation of the customer is also illuminated abroad: how many people must he provide with his salary? How old is the customer? How much are his monthly expenses? Account statements are required to evaluate the latter.
However, borrowers have to say goodbye to a Credit Bureau-free loan from Switzerland, Austria or Spain from the idea that it is a cheap loan, as a rule, there are interest premiums that the borrower has to bear to secure the bank.