It is not uncommon for a second or third loan to have to be taken out despite the loan. Many consumers are not very concerned about this process because their loans are simple consumer loans or small installment loans that are paid in a very short time and therefore do not burden the budget further. However, if you have a large real estate loan that not only needs to be serviced for many years, but also with high monthly installments, you have to consider whether a loan is currently possible despite the loan. In the end, the money earned must not only be enough for the loan and the loan. It must also be able to cover the other monthly expenses.
At this point, we would like to explain how you can determine whether a loan is possible and useful despite an existing loan.
What are the requirements for banks to have a loan despite a loan?
If you want to take out a loan despite a loan, you will have to present yourself to the lending bank as a solvent. This means that in addition to a positive Credit Bureau, you must also have a sufficiently high and above all a solid income.
The income has to be so high that you have to be able to put up with the new loan burden as well as the burden for the loan and the fixed costs such as rent, electricity and insurance that accrue every month. On top of that, the income must have enough scope for special expenses that have to be made again and again. In short: only if you have a sufficiently high income will you be welcomed with open arms at the banks and savings banks and can hope for a loan despite a loan.
What are the options for borrowing?
If you have a good credit rating, basically all doors and gates are open to you when borrowing. Because then there will be no bank that refuses another loan. Provided, of course, that your loan requests are based on your personal requirements and are not too high.
As a follow-up loan, a small loan is therefore gladly granted, which can be conveniently repaid. If you already have a small loan that will be paid in the near future, you can inform the bank of this. It will incorporate this into the loan calculations and may also approve a larger loan amount under these circumstances. However, make sure that you can also prove your details. So take documents with you to the bank to show that the current loan will soon be a thing of the past and will be paid.
If you are looking for a particularly cheap loan despite a loan, we recommend that you compare various offers before signing a loan agreement. So that you do not have to ask each bank individually for a loan offer, you should use a loan calculator, which you can find here with us. He will help you identify suitable loan offers and, if you wish, will also contact the bank behind the offer. This saves you a long search and you quickly have the money from the loan in your hands and can use it for the intended purpose.
Is the credit entered in the Credit Bureau?
If you have not opted for a foreign loan or a personal loan, then it will be entered in the Credit Bureau like all bank loans. This entry serves for security and is intended to show other creditors which financial liabilities you have to service. If the loan is paid again, the entry will be deleted from the Credit Bureau.