Married: Taking out a loan as a married couple together or alone?

Whether you are a newlywed or have been tying the knot for a long time, the question of the optimal credit strategy can be decisive for your financial future. Should you take out a loan together as a married couple or is it better to act alone? With our expertise, we are at your side to clarify these and other questions on the subject of “loans in marriage”.

Loan Options for Married Couples: Joint vs. Individual Borrowing

Married couple on wedding day with flowers

Personal loan with spouse: stronger together?

When it comes to taking out a personal loan, married couples are faced with the decision of whether to apply for it jointly or alone. There are several advantages to borrowing together:

  • Higher loan amounts: Banks look at the spouse’s additional income, which usually results in a higher approved loan amount.
  • More favorable terms: A loan with 2 borrowers means a lower risk of default for the bank, which often leads to better interest rates.
  • Shared responsibility: Jointly repaying the loan can reduce the financial burden for each individual and strengthen the relationship.

However, it is important to consider the financial stability and reliability of both partners. Open communication about the financial situation and future plans is essential to avoid surprises later on.

Getting married Taking out a loan on your own: When does it make sense?

There are situations where it may make more sense to take out a loan on your own, even if you are married. These include:

  • Unbalanced credit score: If one partner has a significantly better credit score than the other, a single loan could lead to better terms.
  • Financial independence: Individual borrowing can preserve financial independence within the marriage and is an option if you want to make certain investments separately.

The decision whether to take out a loan jointly or alone depends heavily on individual financial circumstances and goals. It is advisable to seek an in-depth consultation with our experts before making a decision in order to choose the best option for your situation.

Pitfalls of joint borrowing

Liability issues: Who is responsible?

In the case of joint borrowing, both partners are equally liable for the repayment of the loan. This means:

  • Shared responsibility: If there are payment difficulties, both partners are equally obliged to solve them.
  • Mutual collateral: In Switzerland, joint liability provides a form of collateral for the bank, which in turn can benefit borrowers.

The decision to enter into a joint loan agreement should be made after careful consideration and with a clear understanding of the joint financial obligations. An open discussion about financial goals and possible risks is essential.

It is important for married couples to carefully analyze their financial situation and, if necessary, seek professional advice in order to make the best decision for their future together. We are at your disposal for this purpose, of course completely free of charge.

Loan with the spouse after separation or divorce

Couple in front of Eiffel Tower

One of the biggest challenges with joint loans is the handling in the event of separation or divorce, which, according to statistics, has a certain probability. In this case, the following information should be considered:

  • Ongoing liability: Even after a separation, both partners remain responsible for repaying the joint loan. A clear agreement on the division of these obligations is essential.
  • Debt restructuring options: In some cases, it may make sense to reschedule or refinance the loan to a partner in order to achieve a clear separation of financial obligations.
  • Legal advice: It is advisable to seek legal advice at an early stage in order to understand one’s rights and obligations and to act appropriately.

Preparing for such eventualities can be emotionally and financially relieving. Open communication and setting clear agreements when taking out a loan can help to avoid conflicts later on.

FAQ: Frequently asked questions about loans in marriage

What happens to the loan if one of the partners dies?

Debts are inherited in the same way as assets . So, in the event of the death of one partner, the remaining spouse usually assumes sole responsibility for repaying the joint loan. It is important that married couples consider appropriate insurance, such as term life insurance, which covers the remaining loan amount in the event of death or provides financial relief for the outstanding amount(s) and the surviving partner.

How much credit do you get as a married couple?

The amount of credit a married couple can obtain depends on various factors, including joint income, existing debts, the creditworthiness of both partners, and the bank’s overall lending criteria. A joint loan request can lead to a higher approved loan amount, as the total income is included in the loan decision. Of course, it also depends on the type of loan: A construction loan or loan for a house or property is viewed differently than a classic consumer loan . You are also welcome to calculate your credit limit here on our site in order to sound out your credit limit (alone or as a couple).

Is a loan cheaper if you are married?

Whether a loan is cheaper if you are married depends on the specific loan conditions and the bank. In many cases, married couples can benefit from better terms, as the risk to the bank is lower due to the combined income and shared liability. However, each couple should obtain and compare individual offers in order to find the most favorable conditions.

Conclusion: Strategies for Married Couples in Dealing with Loans

The decision to take out a loan as a married couple and whether to do it together or alone is usually one of the most important in life and should be well considered. The following strategies can help you make the right decision:

  • Comprehensive planning and communication: Before you take out a loan, discuss your financial goals and options in detail. The approval of your life partner to your plans is one of the central requirements. Open and honest communication is the key to a successful financial partnership.
  • Comparison and negotiation: Get several offers with our loan comparison and compare the conditions exactly. This is the only way to get the best possible conditions, have everything in your own hands and leave nothing to chance.
  • Consider all risks: Familiarize yourself with the risks of borrowing together and take precautionary measures to hedge against possible future scenarios.

With the right preparation and strategies, married couples can successfully and confidently navigate the path to their financial goals. is at your side as a competent partner to guide you through the various loan options and find the best solution for your individual situation.

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