The gap between citizens in Germany, who easily receive a loan and regularly rejected by the banks in the loan requests, seems to be widening.
On the one hand, many consumers can afford a loan easily, which is mainly due to the low interest rates.
On the other hand, banks have also become much stricter in some areas, so that, for example, older people complain more and more often about not getting credit from their bank.
Numerous examples of disapproval of loans from older borrowers
When Werner S. asked his bank if he could finance the urgently needed purchase of a new car via the bank, he firmly expected that this would be possible without any problems.
Although he is now over 65 years, but has a secure pension and of course, the new vehicle would be available anyway as security. All the more astonished was that the bank told im that he was already too old to get a loan.
Even a savings contract due at the end of the year, with a not inconsiderable balance that could also have been considered as collateral for the financing, was more or less ignored by the bank.
Instead, the bankers argued that with the age reached, the danger was that he might not be able to repay the loan properly.
That there is another way, then showed a demand at a car bank, where Werner S. is expected to buy the vehicle through the dealer. So auto dealers and Autobank were immediately ready to make the proposed financing.
However, this example shows that more and more banks and savings banks seem to be moving towards a general age limit for lending.
Problems especially with real estate loans
Once such an age limit has been set, for example, by the Board of Management, a very good credit rating as well as a secure income, which represents the statutory pension in a hardly comparable way, no longer seem to matter for the assessment of the loan request.
space Selected loan amount monthly rate offer 1.) 210,678 times 3,000 euros from 37 $ to offer
2.) 186,731 times 10,000 euros from 122 $ to offer 3.) 106,248 times 1,000 euros from 12 $ to offer 4.) 94,578 times 5,000 euros from 61 $ to offer 5.) 58,656 times 120,000 euros from $ 1,429 to offer 6.) 55,724 times 7,500 euros from 91 $ to offer Explanation: So often, the respective loan offer was selected in the last 30 days by our readers.
In the area of installment and discretionary loans
This mainly affects persons 65 years. The situation in real estate financing is even more critical.
Loan seekers now have a problem getting financing that has reached the age of 55. In this context, it is not uncommon for banks to argue that the average repayment period for a mortgage loan is over 20 years, and therefore, given an initial age of 55 years, it is quite likely that the borrower would not live until the loan matures ,
Of course, this argument is not to be dismissed, but consumer advocates and many other experts still see the behavior as critical.
After all, for example, would exist with existing collateral or even a residual debt insurance option to fully hedge the loan amount awarded, so ultimately for the bank in total no credit default risk would exist.