Those who have children can usually not complain about too much money. Loan with children is more the norm. The youngsters not only stimulate the need for credit, but also make it difficult to obtain favorable credit-related interest rates. The article provides everything important for borrowers who are parents at the same time.

The loan with children – the hurdles.

Children are the future of every society. So it would only be logical and understandable that particularly good conditions are created. Lending, however, is less about future-oriented social planning than simply money. Society, in the form of its political representatives, leans back and trusts the forces of the market. Wherever there is a need, the market will provide the right offers.

Basically, that’s the way it is. Other sociopolitical changes also play a decisive role only with a loan with children. The decisions of Basel were taken as part of the euro crisis. They impose clear guidelines on the market. Every loan should now be secured in the best possible way. Garnishment-free allowances must therefore have a completely different effect than before. In current practice, many loan applications fail precisely at these limits. People just don’t earn enough to be creditworthy with children. The structural reforms in Germany are having an impact. Pensioners and families with children are particularly affected by these effects.

What options do families have?

Most families have credit needs. Unfortunately, many give up looking for a loan far too quickly. The house bank rejected the application and there is no credit. The embarrassment is not to be classified as creditworthy, which is usually the decisive factor in this behavior. Nevertheless, the refusal of a bank does not mean that another provider also refuses the loan with children. There is scope in the current guidelines.

Another step towards more creditworthiness can also involve the inclusion of a guarantor. He can often close the credit gap. If this path is also closed, there are other alternatives for somewhat higher interest rates. On the one hand, the help of a credit intermediary can lead to a suitable provider from home and abroad. There is also the private loan, which enables a loan solution in almost all situations.

The summary in one sentence:

• Almost all families with children have credit requirements.
• State support through special consideration is not expected for families.
• The loan with children is subject to the same conditions as any other loan.
• In terms of social policy, the goal of credit security has top priority.
• Nevertheless, not all providers rate according to the same criteria.
• After the bank’s cancellation, nobody should give up immediately with their loan request.
• Some direct banks offer low interest rates and fair standards.
• The safest way out when looking for the loan with children is by private loan.