Not surprisingly, to reduce the risk of default, some banking and non-banking companies require in certain cases the so-called co-applicants of the loan. However, clients also feel more confident when they are not alone on credit. With someone else, they would take a 2/3 loan, while only 15% alone. The remaining 18% would not be interested in the loan alone or with anyone else. “If a person decides to take out a loan, he is interested in two things – minimal risk and the most favorable conditions. This is exactly what the new category of so-called partner loans is facing, ”says Kyle Manuer, Sales and Marketing Director of Bankil.
Loan with a life partner
Persons with whom Czechs would take a loan most often include spouses (35%). The second most frequent choice is represented by life partners who are not married (21%). 6% of respondents would prefer to take out a loan with one of their parents, quite understandably this attitude can be observed most strongly among young people under 26 years of age. 4% of respondents would take a loan with another family member. Outside family members, best friends or colleagues have been identified as the ideal people to share a loan, but these are only exceptional cases.
Lower risk and more favorable conditions
And why, according to a survey, the Czechs would rather take out a loan with someone else than be on their own? The second most common reason given by almost one fifth of people was the distribution of risk in case they could not repay the loan. The highest number of respondents (44%) stated that it would be most convincing for them to obtain more favorable loan conditions in this way. The Czechs also attach an important role to the possibility of sharing a loan with a partner for a larger amount of money. “Partnership loans are beneficial to a financial company because it reduces the risk that clients will be unable to repay thanks to two applicants. The company will thus save on possible costs related to the recovery of receivables and can offer better conditions, such as higher borrowed amount or lower interest rate, ”explains Kyle Manuer from Bankil.
Loan with partner to purchase housing and reconstruction
If Czechs were to indicate what they would take a loan with a life partner or other close person, they are quite clear. 61% of respondents would decide to finance new housing in this way. 55% of Czechs would borrow a pair for reconstruction, 28% of them would buy a car. Less than one fifth of Czechs would provide household equipment with a partner loan, while 15% would finance education for their children.